NEWS from AAA South Dakota, Nov. 5 2007 – The national average price for a gallon of self-serve regular gasoline has topped $3.00 for the first time since July 20, 2007, according to AAA South Dakota. AAA’s fuelgaugereport.com Web site pegs the average across the nation today at $3.004.

“Retail prices have been rising steadily since the national average hit $2.757 on Oct. 15 of this year,” said Mark Madeja, spokesman for AAA South Dakota. “That same day, the South Dakota average was $2.801. Today, it stands at $2.989.”

There are 25 states now with statewide gas price averages below that of South Dakota. The least expensive states for fuel today are New Jersey at $2.792, South Carolina $2.854, Missouri $2.867 and Virginia $2.869.There are 22 states with average prices above $3 per gallon.

“Tensions between Turkey and Iraq are partly to blame for the astronomically-high crude oil prices we’re seeing on the futures market, although today we’re getting word the situation is easing,” said Madeja. “Plus, oil market speculators who sell at these higher prices in the wake of bad Mideast news are inadvertently encouraging other speculators to buy, thinking prices will continue to rise, which has a tendency to drive prices even higher. It’s a vicious cycle”