Motorists in North Dakota and across the country are paying less at the pump as gas prices continue to move lower.
Nationally, motorists are saving seven cents per gallon compared to one week ago while North Dakotans are saving four cents, according to AAA. The drop in averages continues a four-week trend toward lower prices.
Savings are even greater compared to one year ago when the national average was 21 higher and the North Dakota average 22 cents higher.
Last week the Energy Information Administration’s (EIA) released data showing a surprisingly large build in gasoline stocks. With inventory levels sitting at a nearly five-month high, gas prices will likely continue the trend lower.
Crude prices moved lower early last week, but rebounded after reports emerged that OPEC is considering additional crude production cuts. That news countered the International Energy Agency (IEA) announcement that global oil demand from May 2018 to January 2019 grew at its slowest rate since 2008.
For additional information on gas prices, including county and metro averages, visit AAA.com/gas.