Gas Prices Continue To Decrease

by Laura Monteverdi, Reporter
November 04, 2012 5:02 PM


The national average price of regular gasoline dropped 26 cents per gallon in the last month. South Dakota has felt an even bigger decline. The average price per gallon on October 1st was $3.86 and as of November 1st the average was $3.51.

Sioux Falls residents like Brynn Muir are looking forward to saving even more money.

“It will be nice to not have to weep at the pump everytime I want to see my mom!” said Muir.

Gas prices generally drop in November as demand declines and because refineries are producing the less expensive winter blend gasoline.

According to AAA, gas prices towards the end of October were dropping at the fastest rates in nearly 4 years. If the trend continues, motorists may soon be paying less than last year to fill up their tanks.

“Anytime the gas price is down it's good and I think with the way the economy is it will just be a big plus for people to get out and spend a little bit more money and enjoy things that they would like to do,” said motorist Ron Hofer.
     
AAA predicts that the national average price of regular gasoline will be between $3.25 and $3.40 a gallon by this Thanksgiving. As the holiday season approaches the decrease is good news to motorists as they make their travel plans.

“I will definitely go up and see family because of this. I wasn't going to be able to do it when the gas prices were $4,” said Sioux Falls resident Randy Wharton.

While it may seem like prices are low according to reports, they are still at record highs for this time of year.