GASOLINE PRICES STILL NEARLY $1 ABOVE YEAR AGO LEVELS IN STATE AND NATION

Tuesday, August 2 – Today’s average price for self-serve regular gasoline in South Dakota is $3.76 per gallon, $1.00 more than on this date one year ago, according to AAA South Dakota, despite lower demand and a sluggish economy.
           
“Commodities markets, including crude oil futures, have been held hostage by global debt concerns since late June of this year when the spotlight shifted to the debt ceiling debate unfolding in Washington,” said Mark Madeja, spokesman for AAA South Dakota. “Today, after news that an eleventh-hour agreement had been reached, oil initially traded higher but prices have now turned lower over ongoing worry about global debt, poor domestic economic reports and a weakening US dollar.”
           
The nationwide price average for gasoline today is $3.70, down a half-cent since last Saturday but still 96 cents above the price posted on August 2, 2010. After rising for 25 of the 31 days in July, the national average price has decreased slightly each of the past three days.

Today, Hawaii has the most expensive in the nation at $4.13, followed by Connecticut at $4.06, Alaska $4.02, New York $3.97, and Illinois $3.91.

For station-by-station gas prices across the nation, visit AAA.com and click on Fuel News & Tools in the AAA News & Safety section for AAA’s free Fuel Price Finder. The auto club’s free Fuel Cost Calculator tool is also there as well as tips on ways to save at the pump. National average gas prices, state-by-state and city-by-city, updated daily, are available at www.AAAFuelGaugeReport.com.