Gas prices have declined for 99 consecutive days
RAPID CITY, S.D. (KEVN) - The national gas price average edged a penny higher today after 99 consecutive days of prices declining at the pump.
According to AAA South Dakota, the national average rose to $3.68 per gallon and despite the increase, the price is still lower than last week’s average of $3.70 and much lower than last month’s average of $3.90 per gallon.
The cost of gas has been on a steady decline for the past 14 weeks which is the longest streak since 2015. A variety of factors have contributed to the increasing gas prices that occurred over the last few months.
”There’s obviously a lot of uncertainty still in the market with the war in certain places in the world, there’s economic recessions going on and those things can play a role. We’re also in the middle of hurricane season which if we have interruptions in supplies such as in the Gulf of Mexico for example, that can impact gas prices as well,” said Shawn Steward, the spokesperson for AAA South Dakota.
Steward says gas prices can be uncertain, but as the fall and winter months roll in and demand declines prices should continue to be steady.
”Right now, we’re going into the period where the winter blend of gasoline is in the system. In the summer there is a more expensive summer blend that’s required across the country and were now passed that, so the less expensive winter blend is in the gas pump now which typically saves a little bit in terms of the price,” said Steward.
The current average gas cost in Rapid City currently sits at 3$.68 per gallon with the highest recorded average price reaching over four dollars.
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