Minnesota Gas Prices Drop 40 Cents from Last Year
- Gas prices in Minnesota have settled around $3.30 to $3.37.
- Data from GasBuddy shows a decrease of 40 cents from last year.
- Consumers can expect stable gas prices in Minnesota for the foreseeable future.
MINNEAPOLIS — With gas prices currently at a low, summer road trips are becoming more appealing for Minnesotans. According to AAA, the average price per gallon in Minnesota is over 40 cents lower than last year, settling between $3.30 and $3.37, as reported by GasBuddy. This decline in prices is attributed to a robust global oil supply and local refineries operating at full capacity during the summer months. Dave Vang, a finance professor at the University of St. Thomas, noted that the current prices are historically low compared to recent trends. However, he cautioned that a potential spike in prices could occur in the fall when refineries transition to a winter blend. Vang also highlighted the possibility of geopolitical events that could disrupt global oil supply, which may further impact prices. For those looking for the best deals, GasBuddy indicates that the cheapest gas in the Twin Cities area is available at Kisch Oil in Dayton, where prices are at $3.00 per gallon, significantly lower than the average. This price drop is likely to encourage more residents to take advantage of the favorable conditions for travel. As summer approaches, the combination of low gas prices and the potential for increased travel could lead to a busy season on Minnesota's roads, with many residents eager to explore the state and beyond.