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MN gas hike twice that of nat’l average

Average retail gasoline prices in Minnesota have risen 5.4 cents per gallon in the past week, averaging $3.55/g Sunday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota.

This compares with the national average that has increased 2.5 cents per gallon in the last week to $3.65/g,  Including the change in gas prices in Minnesota during the past week, prices Sunday were 6.0 cents per gallon higher than the same day one year ago and are 7.6 cents per gallon higher than a month ago.

The national average has increased 12.9 cents per gallon during the last month and stands 16.5 cents per gallon higher than this day one year ago.

“While the national average has risen for the 12th straight week, it is likely nearing a peak,” said Senior Petroleum Analyst Patrick DeHaan. “Gas price increases have continued since early February but are likely nearing an end as oil refineries conclude seasonal maintenance, and the switchover to summer gasoline is nearing completion. ever level as reported by the Energy Information Administration, which cited crude oil stocks at a record high of 397.7 million barrels.