Gas prices have been on the steady decline for the past few months. St. Cloud State Economist King Banaian joined me on WJON. He explained United States production of oil has reached an all time high surpassing the highs established pre-pandemic.
You've probably noticed gas has gone down in recent days in the region. Despite conflict in the Middle East, prices could continue to drop in the next month.
Gas prices jumped up significantly late last week in Minnesota, and we now know what caused them to increase so quickly-- and when they might come down again.
If you haven't noticed, gas prices here in Sioux Falls and throughout South Dakota have significantly spiked over the past 72 hours. So, what's driving our latest pain at the pump?
The last thing you want to tell your family is that you won't be able to go see their cousins in Minneapolis or Denver this summer all because it costs so much more this year to fill the tank.