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Gas prices reach new record high

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Published: Mar. 7, 2022 at 6:12 PM CST
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SIOUX FALLS, S.D. (Dakota News Now) - Gasoline prices in the United States have hit an all-time high.

According to GasBuddy, the average price, nationwide, set a new record Monday, reaching $4.11 a gallon, breaking the previous record set in July of 2008.

The current spike in the price of a gallon of gas also marks the biggest one-week rise ever, jumping 50 cents since last Monday.

South Dakota resident Terry Vanconant just returned to the state from a long road trip and has become more of an expert on gas prices than he’d prefer.

“My wife and I just completed about a 3,600-mile journey from (South Dakota) down to New Orleans, and up through Nashville, and across to St. Louis, and back up here,” Vanconant said. “We put some miles on and saw some different gas prices - let me tell you!”

Though they budgeted for fuel, he says current prices are shocking.

“When headlines read four-plus (dollars per gallon), then everybody sits up and takes notice,” Vanconant said.

In South Dakota, the average price per gallon sits at $3.73. Comparatively, the average in California is $5.36.

Others, like Dawn Boltjes, who now lives in South Dakota, but used to live in a state where high gas prices were normal, aren’t too worried about the current trend.

“I used to live in Alaska, so this is nothing new,” Boltjes said.

Bruce Vollan, the owner of Vollan Oil near Baltic, says he hasn’t seen prices jump like this since the recession.

“I certainly think people should be thankful for the state we’re in right now, you could be paying, easily, six or seven dollars for a gallon of gas,” Vollan said. “Three-and-half, four bucks hurts really bad, let’s hope we don’t get to that six or seven.”

As much as it impacts consumers, Vollan says the volatile market is a challenge to manage from a business perspective as well.

“You try to price the day’s market, which gets very difficult,” Vollan said. “What’s the first thing someone like myself does when they get out of bed? I might not even be out of bed when I’m looking at the markets.”

And, with the current conflict in Ukraine... there is no end in sight.

“The best advice you can have is to fill up every morning, you’re most likely going to hit the low for the week,” Vollan said.

According to GasBuddy, in South Dakota, Yankton and Hughes Counties have the lowest gas prices. Meanwhile, Butte and Lawrence Counties have the most expensive price per gallon.

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