North Dakota gas prices up $0.55 last month, $0.29 last week alone and hurricane season could make it worse

Published: Jun. 6, 2022 at 8:09 PM CDT
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BISMARCK, N.D. (KFYR) - Gas prices are up all over the country, breaking record after record, just as summer vacations get into full swing.

The average price for a gallon of gasoline in North Dakota rose $0.29 last week alone and $0.55 this month, bringing the average to more than $4.50 per gallon, and diesel topped the five and a half dollar mark.

Patrick De Hann is an oil and refined products analyst and an expert on the issues driving gasoline prices to record high levels. He says this is the largest increase we’ve seen since Russia invaded Ukraine at the end of February.

“Only maybe a handful of times have we ever seen such a significant jump as we’ve seen over the last week. Certainly, you can count on one hand how many times that’s happened,” said De Hann.

The massive imbalance of supply and demand has people feeling frustrated.

“Outrageous, absolutely outrageous. And something needs to be done A.S.A.P.,” said Greta Nelson of Bismarck.

”Yeah, I mean I cringe, you know,” said Bailey Reinke of Bismarck.

”Diesel’s outrageous, same as gas,” adds Bismarck resident, Brendin Monge.

Until gas prices stop climbing De Haan says there are a few things motorists can do to make the gas in their tank go further.

”Something as simple as driving less aggressively. Trying to limit your acceleration, the pedal doesn’t need to be to the metal. If you’re on the highway, try to slow down five, ten, even 15 miles per hour,” said De Haan.

Driving style can really impact how fuel-efficient your car’s engine is and can save you the equivalent of 50 cents to a dollar per gallon. He also adds that hurricane season is upon us and could cause even more disruptions to oil production and refining along the Gulf Coast, causing another round of price increases.

It’s tough to say what gas prices will look like in the future but, historically they rise in the summer because of increased demand.

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