MN gas prices down 4.3 cents last week, with the downward trend most likely continuing
Average retail gasoline prices in Minnesota have fallen 4.3 cents per gallon in the past week, averaging $2.49/gallon yesterday, according to GasBuddy's daily survey of 2,856 gas outlets in Minnesota. This compares with the national average that has fallen 5.4 cents per gallon in the last week to $2.51/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Minnesota during the past week, prices yesterday were 25.8 cents per gallon higher than the same day one year ago and are 1.5 cents per gallon higher than a month ago. The national average has decreased 2.5 cents per gallon during the last month and stands 23.4 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on February 19 in Minnesota have ranged widely over the last five years: $2.24/gallon in 2017, $1.62/gallon in 2016, $2.24/gallon in 2015, $3.38/gallon in 2014 and $3.76/gallon in 2013.
"For the second straight week, average gasoline prices fell, with nearly every state declining week-over-week as retail gas prices saw more catching up to the previous decline in crude oil prices," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "The trend may not be over just yet, but oil prices have rebounded from their lows and are again strengthening, which may cut the party at the pump short in the weeks ahead."