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Gas Prices Decline As Summer Approaches

May 14, 2012, 5:54 PM by Peggy Moyer

Gas Prices Decline As Summer Approaches
SIOUX FALLS, SD -

You may have noticed it takes a little less money to fill your gas tank lately.

Gas prices are averaging $3.50 per gallon in Sioux Falls on Monday. That's down about 10 cents from a week ago.

Jay Anderson doesn't stop at the pump very often. He gets around 45 miles per gallon on his bike.

"It's still a little high, but when you ride a bike around, you really don't notice it as much any way," Anderson said.

People say they are happy to hear prices are going down, but would like to see it go a little lower still.

"I think it might go down a couple of cents cheaper, but who knows? It goes down and rises again," Sioux Falls resident Moe Abdi said.

The rumor of $4 gas by summer started last January when analysts say an unexplainable 20 percent price hike happened. Now, two weeks before summer, they say the news is much better.

"I think we're going to continue to see gas prices trend lower. The only way it wouldn't is unless something catastrophic would happen, a hurricane or some Middle East crisis type of thing,” AAA Spokesman Marilyn Buskohl said.

Buskohl says Americans have been driving less this past year, but it's hard to say what exactly is driving prices down.

"I think people are becoming more fuel and energy conscious. I think people are conserving fuel more than they used to be. It's more top of mind than it used to be," Buskohl said.

And lower prices at the pumps mean more money in people's pockets heading into the summer months.

Here in South Dakota, the average price of gas is down 27 cents from a year ago.

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