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N.D. (NewsDakota.com) – The price of gas in North Dakota held steady at $2.27 per gallon on average and may be near its peak for the year.

While U.S. gasoline demand remains on track to set a new all-time high for the 2016 summer driving season, crude oil remains relatively less expensive than recent years, which is contributing to direct savings at the pump.

AAA Spokesman Gene LaDoucer states that although North Dakota drivers are paying nine cents more than one month ago, the average pump price is down 44 cents per gallon versus this same date last year. The savings are likely to continue as supply appears more than capable of keeping pace with growing demand, according to AAA.

“Pump prices generally peak during the summer months due to imbalances in supply and demand. Unlike many recent years, supply appears to be meeting the growing demand. The combination of factors has resulted in the lowest statewide average since 2005 which, barring and major disruptions in production or supply, should persist through the remainder of the year,” says Gene LaDoucer, North Dakota spokesman for AAA.

Last year the North Dakota average hit a high of $2.76 on July 22. In 2014 the average hit a high of $3.67 on June 25.