Current state of gas prices even though North Dakota has oil presence

MINOT, N.D. (KMOT) — The ongoing conflict in the Middle East continues to impact gas prices here at home.

We wanted to learn more about the current state of prices and why they aren’t lower due to the presence of the oil industry in our state.

On Monday, we told you gas prices are up roughly 15 cents across the peace garden state since last Monday and almost half a dollar in the past month.

The statewide average of $3.60 a gallon remains well below most of the rest of the country.

Eugene Graner of Heartland Investors said prices should eventually come back down as we approach an end to the conflict overseas.

Graner added that it’s typical for prices to increase as warmer weather approaches, as summer blends require a more expensive refining process.

“Prices currently may have peaked out and conversely see the prices decline towards summer, when we normally expect a price rise,” said Graner.

While North Dakota has drilling, pipelines and refineries, Graner added that doesn’t mean motorists in our state will necessarily see lower prices at the pump, as it still needs to be transported to refineries and then to market.

He added that Fargo can sometimes have ‘lower’ prices since they have three pipelines in the area.

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