SOUTH DAKOTA GASOLINE PRICES JUMP 11 CENTS OVER THE LAST FOUR WEEKS

NEWS from AAA South Dakota, Feb. 22 – Retail pump prices across South Dakota have risen an average of 11 cents per gallon since Jan. 25, 2008, according to AAA South Dakota. The state’s average for self-serve regular gasoline now stands at $3.110 with prices slightly higher in Sioux Falls but up to over a nickel lower in Rapid City.

“These gas prices are reflective of higher crude oil prices,” said Mark Madeja, spokesman for AAA South Dakota. “However, there are no firm and fast economic reasons justifying what crude oil is doing on the futures market. Inventories are good and because of the softening economy, demand is down. This would be a time of declining pump prices if not for worried commodity traders on Wall Street who are concerned about worldwide oil supply disruptions.”

AAA’s Fuel Gauge Report (www.AAAFuelGaugeReport.com) shows the average for self-serve regular gasoline is now $3.115 per gallon today nationwide, compared with $2.98 as recently as late January.

Among South Dakota’s neighbors, Wyoming has the cheapest fuel at $2.963 per gallon, followed by Minnesota $3.017, Iowa $3.081, Nebraska and North Dakota at $3.144.

There are only three states, besides Wyoming, with gas price averages below $3.00 today: New Jersey at $2.936, Arizona $2.951, and Missouri at $2.945.