User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


63° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Gas Price Increase Not Expected To Last

February 1, 2012, 10:05 PM by Peggy Moyer

Gas Price Increase Not Expected To Last
SIOUX FALLS, SD - Gas prices are on the rise again. On average, people in KELOLAND are paying a dime more per gallon than just a month ago.

Industry analysts predicted gas prices would fluctuate in 2012 and we're starting to see that happen. The average price in Sioux Falls is running at $3.29 a gallon.

"The economy isn't good, but people need gas to get to where they need to go, to get to work, so you have to pay. You have no choice unless you want to ride the bus or take a bike," Sioux Falls resident Cyndy Sterud said.

Mark Madeja with AAA Insurance says prices are up because refineries are starting to scale back production. With demand decreasing, most of us would expect prices to go down.

"At the end of the day, oil companies have to report to their boards of directors and shareholders and this is one of those unique situations where we absolutely don't like it because the person who is paying at the pump is not nearly as important as the bottom line profit margin," AAA spokesman Mark Madeja said.

Experts say the price of gas could fluctuate 25 to 40 cents per gallon, topping out at $3.50, but he also says that's anybody's guess.

"It can be bull one day. It can be bear the next. It's just a crazy thing to try to follow," Madeja said.

While Wednesday's prices are 20 cents higher than those a year ago, not everyone in KELOLAND is complaining.

"Everything is cheaper in the Midwest, food, gas, clothes, everything. You go to California, you won't complain about gas," Los Angeles native Mitchell Wynder said.

Madeja says analysts don't believe price spikes this year will be too serious or last too long.

Previous Story

Next Story


Comments







Sponsored

 


View business

You may also like

Wild Bat Found At Great Plains Zoo Tests Positive For Rabies

6/26/2015 11:19 AM

The Great Plains Zoo is warning visitors after a bat found on a sidewalk there tested positive for rabies.

Full Story
Presidential Proposal Would Expand Overtime Pay

6/30/2015 7:08 AM

Obama is unveiling a proposal to require overtime pay for workers who earn up to $970 per week, up from the current $455 threshold.

Full Story
Moe's Southwest Grill Selects Sioux Falls Location

6/29/2015 12:41 PM

You will soon have a new option for chips and salsa, salads and tacos in Sioux Falls.

Full Story
Speed Limit Dropping To 75 MPH Along Stretch Of I-90

6/26/2015 1:53 PM

Starting next week, drivers on Interstate 90 will have to slow down from the Wyoming border to just west of Exit 55 in Rapid City.

Full Story
$8 Million Renovation Planned For DM&E Downtown Building

6/25/2015 10:37 AM

An old railroad office building at 140 N. Phillips that has sat vacant for the last few years in downtown Sioux Falls is getting a new lease...

Full Story


Events