Gas price average rises 15 cents in 30 days

Pump prices have risen by 15 cents per gallon on average across South Dakota during the past 30 days, according to AAA�s gasoline price tracking web site, www.FuelGaugeReport.com.

AAA reports the average for self-serve regular gasoline in South Dakota is $3.067 as of Jan. 4, up from the $2.938 recorded 30 days ago and 45 higher than the price average of one year ago. Today�s national average stands at $3.073 per gallon, 13 cents higher than the price average of one month ago and 41 cents than the price on Jan. 4, 2009.

 �Although crude oil is down in price today, these retail pump prices are reflective of what crude has done lately, and that�s to rise,� said Mark Madeja, spokesman for AAA South Dakota. �The market really seems to lack direction, responding instead to every new headline and economic forecast that comes along. Today�s prices seem to be a function of strong inventories, a steady dollar and a decline in manufacturing activity in China.�

U.S. gasoline consumption jumped 4.6 percent week-on-week to 9.4 million barrels per day for the week ending Dec. 24, up 3.9 percent from the same week in 2009. However, a comparison of four-week averages shows a year-on-year decline of 0.4 percent, and the year-to-date gasoline demand shows only mild growth of 0.3 percent for 2010 versus 2009.

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