Gas prices continue to drop, but why? - KOTA Territory News
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Gas prices continue to drop in KOTA Territory becoming some of the lowest in the nation.
The reason? According to Patrick Dehaan, Senior Petroleum Analyst at Gasbuddy.com. It's due to healthy gasoline inventories.
In other words, the availability of cheap Canadian crude and refineries that operate exceptionally well.
Canadian crude oil averaged around $72 dollars, while in the same day, West Texas crude, what other areas of the nation use, averaged around $92 dollars.
People we spoke to, are happy they are going down, whatever the reason.
"It'd be nice if they went down to around $1.50 per gallon but I'll take $2.50 if they get there," says Bill Davies of Custer.
"I love the gas prices right now, I do a lot of traveling up to the hills and to work and so it really helps out," says Michael Madsen of Rapid City.
And how long will they last? Dehaan says in our region prices lag by about two weeks behind the rest of the nation.
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