Gas prices continue lengthy drop in state, around the country
Published 8:48 pm Tuesday, September 6, 2022
Gas prices across the nation and state continue to drop in what the industry analysts GasBuddy is calling one of the longest sustained drops in four years.
According to GasBuddy, the price of gas in Minnesota has dropped just over eight cents in the last week and is averaging $3.69 a gallon across the state.
This has led to a 30 cent decrease from a month ago, however, prices are still just under 70 cents per gallon higher than a year ago at this time.
“The national average has declined for 12 straight weeks, the longest tally since 2018, and it could soon eclipse that mark if we see two more weeks of decline. Though, that may be more challenging given OPEC’s decision (Sunday) to cut oil production,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, price movements will be contingent on where you are, with California seeing some minor increases, while the Great Lakes could see an upward move as BP’s refinery outage has had an impact on supplies. In the Gulf and Rockies, prices may continue to fall, so a very mixed bag for motorists in the week ahead. In addition, there are several disturbances in the Atlantic to keep an eye on, but we do switch back to cheaper winter gasoline in just over a week which should provide some additional relief.”
The cheapest price in the state logs in at $2.96 per gallon with the most expensive ranging to $4.73.
Meanwhile, national gas price averages have fallen 7.7 cents in the last week.
Neighboring areas and their current gas prices:
• Wisconsin: $3.54/g, down 6.1 cents per gallon from last week’s $3.60/g.
• Fargo: $3.66/g, down 8.2 cents per gallon from last week’s $3.74/g.
• Twin Cities: $3.76/g, down 8.8 cents per gallon from last week’s $3.84/g.