Minnesota gas prices down 2.5 cents this week
Average retail gasoline prices in Minnesota have fallen 2.5 cents per gallon in the past week, averaging $2.55/gallon, according to GasBuddy's daily survey of 2,856 gas outlets in Minnesota. This compares with the national average that has fallen 3.5 cents per gallon in the last week to $2.57/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Minnesota during the past week, prices yesterday were 29.4 cents per gallon higher than the same day one year ago and are 10 cents per gallon higher than a month ago. The national average has increased 3.7 cents per gallon during the last month and stands 29.4 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on February 12 in Minnesota have ranged widely over the last five years: $2.25/gallon in 2017, $1.45/gallon in 2016, $2.19/gallon in 2015, $3.28/gallon in 2014 and $3.62/gallon in 2013.
"The wait is over—2018's first weekly drop at gas pumps has arrived with the national average losing ground in the last week. As the Dow Jones average swung violently, oil prices lost considerable ground, falling below $60 per barrel for the first time this year," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "I'd expect most places would see gas prices decline in the week ahead as a direct result. But don't get too giddy—there are still some gray clouds on the horizon."