December 4 – Average retail gasoline prices in Minnesota have fallen 2.6 cents per gallon in the past week, averaging $2.41/g yesterday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota. This compares with the national average that has fallen 3.5 cents per gallon in the last week to $2.46/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Minnesota during the past week, prices yesterday were 38.2 cents per gallon higher than the same day one year ago and are 6.8 cents per gallon lower than a month ago. The national average has decreased 6.4 cents per gallon during the last month and stands 28.4 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on December 4 in Minnesota have ranged widely over the last five years: $2.03/g in 2016, $1.99/g in 2015, $2.59/g in 2014, $3.03/g in 2013 and $3.26/g in 2012.
Areas near Minnesota and their current gas price climate
• Wisconsin- $2.45/g, down 5.5 cents per gallon from last week’s $2.50/g.
• Fargo- $2.26/g, down 2.7 cents per gallon from last week’s $2.29/g.
• Twin Cities- $2.48/g, down 2.2 cents per gallon from last week’s $2.50/g.
“With OPEC deciding last week to extend last year’s agreement on oil production cuts, the future for gasoline prices isn’t as rosy,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “While the short term may feature more modest price decreases is many areas, as we set our sights on the months ahead, 2018 is starting to look ominous as a result of OPEC’s extension. U.S. oil inventories are already 100 million barrels lower than where they were last year as a result of the belt tightening, leading 2017’s yearly average gas price to close out at the highest since 2014. Motorists should enjoy the falling prices now because it’s likely that prices may again rise approaching the New Year as oil prices continue to show strength.”
For LIVE fuel price averages, visit 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.