October 30 – Average retail gasoline prices in Minnesota have risen 4.2 cents per gallon in the past week, averaging $2.40/g yesterday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota. This compares with the national average that has increased 0.6 cents per gallon in the last week to $2.45/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Minnesota during the past week, prices yesterday were 32.1 cents per gallon higher than the same day one year ago and are 2.5 cents per gallon higher than a month ago. The national average has decreased 8.9 cents per gallon during the last month and stands 25.0 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on October 30 in Minnesota have ranged widely over the last five years:
$2.08/g in 2016, $2.26/g in 2015, $3.11/g in 2014, $3.15/g in 2013 and $3.29/g in 2012.
Areas near Minnesota and their current gas price climate:
• Wisconsin – $2.47/g, up 2.8 cents per gallon from last week’s $2.44/g.
• Fargo – $2.24/g, up 2.7 cents per gallon from last week’s $2.21/g.
• Twin Cities – $2.44/g, up 2.4 cents per gallon from last week’s $2.41/g.
“Oil prices have rebounded in the last week, led higher by geopolitical tensions and declining inventories, leading gasoline prices in some parts of the country to make an unseasonable move higher,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “As refineries continue autumn maintenance, we may continue to see gasoline inventories under pressure, with a mixed bag of increases and decreases in the weeks ahead until the conclusion of such maintenance. Meanwhile, exports of crude oil and refined products continue to hit record levels, also weighing on markets. Without the ability to export crude oil, inventories in the U.S. would have continued to increase, keeping pressure on oil prices, but without such protection, oil is flowing out of the U.S. at record pace.”
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.
About GasBuddy
GasBuddy is the technology company changing the way more than 70 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.