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Drivers save as oil prices drop to lowest levels in a decade

Drivers save as oil prices drop to lowest levels in a decade

  • Updated

AAA South Dakota reports prices remain below $2 per gallon throughout much of the state, and figure to remain at that level for the next several weeks.

Monday’s statewide average of $1.91 was 16 cents below one month ago.

“The national average is expected to continue to slide in the near future because supply should continue to outpace demand,” said Marilyn Buskohl, spokeswoman for AAA South Dakota. “However, we expect by late winter the national average could rise 50 cents per gallon as refineries conduct the seasonal maintenance in advance of the busy driving season.”

Gas prices have fallen for 55 of the past 66 days for a total savings of 26 cents per gallon and should remain relatively low because there is more than enough oil and gasoline around the world to meet demand.

AAA reports market fundamentals are positioned to continue to support lower pump prices in 2016. The auto club says it does not expect the national average to top $3 in 2016

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