Experts predict gas price ‘peak’ with fall
Average retail gasoline prices in Minnesota have fallen 5.5 cents per gallon in the past week, averaging $3.49/gallon Sunday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota.
This compares with the national average that has fallen 1.4 cents per gallon in the last week to $3.64/gallon.
“Finally, the news motorists have been waiting for — it appears that at least for now, the national average has peaked,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Since February 7, gasoline prices have been on an upward trajectory in a majority of the U.S., and at least for now, prices have broken that upward trend and have stabilized. This is great news, as it likely means in the next couple weeks that gasoline prices will begin seeing more downward momentum.
By Memorial Day, if there aren’t major refinery kinks that develop, we could see the national average dropping into the $3.50s, or perhaps even lower,” DeHaan said.