Sioux Falls Gas Prices Explode Past $4 A Gallon Ovenight

Drivers in Sioux Falls woke up to a shock at the pump as gas prices surged past $4 per gallon overnight, sparking fresh concerns about how high costs could climb in the weeks ahead.

Sioux Falls gas prices jumped to $4. 29 a gallon overnight on Monday.

The national average gas price is up to $4.48 per gallon.

The sudden spike has many residents wondering if South Dakota could once again approach or even surpass its all-time record average of $4.89 per gallon, set on June 30, 2022.

According to the U.S. Energy Information Administration, gas prices previously hit historic highs in 2022, peaking above $5 per gallon nationwide.

That surge was largely fueled by the Russia's invasion of Ukraine, which disrupted global oil supplies and sent crude prices soaring above $100 per barrel.

At the same time, demand rebounded sharply following the pandemic, while refinery capacity and fuel inventories struggled to keep up.

While today’s spike isn’t yet at record levels, the rapid jump is raising alarms.

Seasonal travel demand, ongoing geopolitical tensions, and tight supply chains could all contribute to further increases.

For consumers, that means higher costs not just at the pump, but across the economy as transportation expenses ripple into food and goods prices.

South Dakotans are once again feeling the sting of volatile energy markets.