Iran Sanctions Could Lead to Higher Gas Prices in South Dakota
According to AAA-South Dakota, the United States re-imposing economic sanctions on Iran could lead to higher gas prices across South Dakota where drivers are already paying an average of almost $2.70 a gallon - the most in years.
This week President Trump announced that the US would be withdrawing from the Iran Nuclear Deal. The fear among many now is that the President's actions could lead to increased crude oil prices which would mean increased gas prices later this summer.
The average price of gas across South Dakota today (5/9) is $2.70 a gallon - $.33 higher than on this same day last year. Prior to Trump's announcement gas prices were expected to continue to rise until around Memorial Day, but the sanctions could mean that gas prices will continue climbing deep into the summer driving season.
"This is a scenario of pump prices possibly going from bad to worse," says Marilyn Buskohl spokesperson for AAA South Dakota. "The timing, just as we head into the busy summer driving season, is not ideal. The main fear now is that gas prices could rise to $3 a gallon by summer."
To find the latest gas prices for South Dakota go to GasPrices.AAA.com.
Source: AAA South Dakota