Sioux Falls Welcomes June 2022 With Another Gas Price Spike
Gas prices are on the rise again in Sioux Falls. Been there, done that, got the t-shirt. This time though, some stations in town raised the price of regular gas by 20 cents overnight from May 31 to June 1.
According to Gas Buddy, as of June 1, 2022, there is no station in Sioux Falls selling regular gas for under $4. On June 1, AAA says the average price of regular gas in Minnehaha County is $4.28. Statewide, regular gas is $4.31, and Diesel averages $5.19. Regular gas nationwide is a record $4.61 per gallon.
Now to address the picture of the gas signs; the one on the left was taken on March 7. That day we saw a big jump in prices overnight. I took that picture at 9 in the morning and wrote a story about it. Later in the afternoon prices around Sioux Falls jumped another 10 cents. The "official story" of the spike in prices back in March was due to Russia invading Ukraine, even though prices were steadily rising well before the war.
The picture on the right was taken on June 1. Note that the price of regular gas is higher than the price of diesel back in March.
According to an article from AAA, the pump prices we see today could be "the calm before the storm." They site an EU ban on Russian oil as well as a huge demand in gas over the Memorial Day weekend and they see demand for gas to increase with summer driving.
Prices will vary greatly throughout Sioux Falls, and I'm not picking on one particular gas station. Stations will raise or lower prices based on several factors. However, it seems there is no end to the excuses and reasons from policymakers and talking heads in the media for rising prices.
All I can say is prepare for gas and diesel prices to climb higher, much higher. My only hope is that when, or if, prices go back down, they will do so as fast as they went up.