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Cold snap to thank for drop in gas prices

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business Detroit Lakes, 56501

Detroit Lakes Minnesota 511 Washington Avenue 56501

Average retail gasoline prices in Minnesota have fallen 5.5 cents per gallon in the past week, averaging $2.99/g Sunday.

This compares with the national average that has fallen 0.7 cents per gallon in the last week to $3.24/g, according to gasoline price website MinnesotaGasPrices.com.

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Including the change in gas prices in Minnesota during the past week, prices Sunday were 20.6 cents per gallon lower than the same day one year ago and are 5.9 cents per gallon lower than a month ago.

The national average has increased 3.9 cents per gallon during the last month and stands 10.4 cents per gallon lower than this day one year ago.

“The National Weather Service says this week begins with much of California under a ‘hard freeze warning’ and separate storm systems tracking across the Great Lakes region and from the Gulf Coast to the northeast, bringing snow, sleet and freezing rain from the Lower Mississippi River Valley northeastward to New England,’ said Gregg Laskoski, senior petroleum analyst, GasBuddy.

“Under conditions like that, consumer demand usually declines and that often results in a nominal decrease in retail gas prices,” Laskoski added. “That may be what lies ahead this week.”

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