07
December
2023
|
11:59 AM
America/Chicago

Falling Gas Prices a Holiday Gift to North Dakota Motorists

Since a brief stint above $4 a gallon in mid-September, the average price for a gallon of regular gas in North Dakota has fallen steadily and is now set to move below $3.

While today’s statewide average stands at $3.02, three in four stations across North Dakota have posted prices below $3. The lowest prices are under $2.80, according to AAA data.

The main reason is a weaker market for oil, which has slipped below $70 per barrel. The falling price comes just a week after OPEC+ announced voluntary production cuts of about 2 million barrels daily. But instead of viewing it as coal in the stocking, the oil market response has thus far been a resounding “meh”, according to AAA.

“Gas prices tend to follow a seasonal trend lower during the winter months,” said Gene LaDoucer, regional director of public affairs for AAA-The Auto Club Group. “Less travel and winter fuel blends allow for cheaper prices at the pump.”

Low gas demand, combined with supply growth has helped push pump prices lower. If oil prices remain low, drivers can expect pump prices to do the same through the winter months, according to LaDoucer.

Today's national average of $3.20 is 20 cents less than a month ago and 15 cents less than a year ago.  The North Dakota average is 39 cents less than a month ago and 14 less than this time last year.

Drivers can find current gas prices along their route using the AAA TripTik Travel planner.   

About AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 64 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.