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North Dakota, ND, May 2, 2016\u00a0 (CSi)\u00a0 – Average retail gasoline prices in North Dakota have risen 3.1 cents per gallon in the past week, averaging $2.05\/g Sunday, according to GasBuddy’s daily survey of 493 gas outlets in North Dakota. This compares with the national average that has increased 8.1 cents per gallon in the last week to $2.22\/g, according to gasoline price website GasBuddy.com.<\/p>\n
Including the change in gas prices in North Dakota during the past week, prices yesterday were 37.3 cents per gallon lower than the same day one year ago and are 10.0 cents per gallon higher than a month ago. The national average has increased 15.9 cents per gallon during the last month and stands 39.3 cents per gallon lower than this day one year ago.<\/p>\n
According to GasBuddy historical data, gasoline prices on May 2 in North Dakota have ranged widely over the last five years:
\n$2.43\/g in 2015, $3.57\/g in 2014, $3.57\/g in 2013, $3.79\/g in 2012 and $3.88\/g in 2011.<\/p>\n
Areas nearby North Dakota and their current gas price climate:
\n\u00a0Sioux Falls- $2.08\/g, up 5.4 cents per gallon from last week’s $2.03\/g.
\n\u00a0Fargo- $1.90\/g, up 0.9 cents per gallon from last week’s $1.89\/g.
\n\u00a0South Dakota- $2.13\/g, up 3.5 cents per gallon from last week’s $2.09\/g.<\/p>\n
\u201cGasoline and oil prices have set new yearly highs as the imbalance of supply and demand may begin to shift as global oil production shows signs of slowing and gasoline demand is accelerating. While oil inventories in the U.S. remain well-supplied for now, they are likely to start receding as refiners begin throttling up their operations after maintenance season. Americans appear ripe to consume near record levels of gasoline, if not the highest levels ever this summer with some of the lowest summer prices seen in ten years or so,\u201d said Patrick DeHaan, a Chicago-based senior petroleum analyst for GasBuddy.\u00a0<\/p>\n
\u201cGasoline prices in all fifty states saw a rise over the last week- an average of over 8 cents. While we may not see as such a sharp rise this week, we aren’t out of the woods just yet. Gasoline prices may continue inching up until Memorial Day- a major test if refiners are well-prepared for the summer driving season,\u201d DeHaan added.<\/p>\n