Gas prices are finally heading down after hitting an all time high last week. While $3.99 may still seem high for a gallon of regular unleaded, prices are going in the right direction. And we should expect them to continue going down.
If you've driven in North Dakota at all in the last couple weeks you've likely noticed the spike at the pump.
"I really don't get too concerned about it anymore. There's nothing I can do about it, except lose sleep. So they got ya on that, they got ya," said Emil Kirschenmann from Bismarck.
It was a week ago the prices hit the peak in the Bismarck area of $4.39 a gallon for regular unleaded.
"I think within about a week or two weeks they went up about 70 cents a gallon and now they went down 29-30 cents a gallon. So I don't know what causes that," said Kent Moorrow from Bismarck.
Eugene Graner, President of Heartland Investor Services, says it was due to three oil refineries that shut down for scheduled maintenance with not enough gas in storage. "The higher price obviously short circuited demand. Less driving has taken place, and so with the increased production, less usage, things happened quickly and one gas station chose, in Bismarck, to move quickly already on Saturday and we started seeing it across the city."
More refineries, including Tesoro in Mandan, are scheduled to go offline for maintenance. But with enough reserves set aside, he says it shouldn't cause the spike. "All we don't want to see right now is just another hiccup where more refineries than that are scheduled to go down, go down."
But even with the prices dropping, some drivers aren't noticing the difference.
"Are they going down? (laugh) I don't notice them going down," said Andrew Jackson.
"It's amazing when you think $4.00 gas is a good deal," Moorrow said.
If the trend continues, we may see prices closer to the national average of about $3.80 a gallon.
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