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Minnesota weekly gas price update and outlook


Fri, Jun 6th, 2014
Posted in All State of Minnesota

Minnesota, June 2 - Average retail gasoline prices in Minnesota have risen 0.6 cents per gallon in the past week, averaging $3.50/g, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota. This compares with the national average that has increased 1.2 cents per gallon in the last week to $3.64/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Minnesota during the past week, prices yesterday were 33.4 cents per gallon lower than the same day one year ago and are 0.9 cents per gallon lower than a month ago. The national average has decreased 0.3 cents per gallon during the last month and stands 0.6 cents per gallon higher than this day one year ago.

“It’s been another relatively quiet week across most of the country with the national average fluctuating little,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Having said that, some hot spots have emerged- specifically areas of the Great Lakes where prices last week shot within just a tenth of a penny of four dollars per gallon. While that has led Great Lakes and Midwest markets higher, I don’t believe the higher prices are sustainable much longer. In many areas that saw large jumps last week we’re already seeing relief. For the rest of the country, this week will likely feature little movement as wholesale gasoline prices continue in their funk and as we await the “traditional” decline of wholesale prices to start the summer driving season,” DeHaan said.

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