November 27 — Average retail gasoline prices in Minnesota have fallen 2.3 cents per gallon in the past week, averaging $2.45/g yesterday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota. This compares with the national average that has fallen 3.9 cents per gallon in the last week to $2.49/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Minnesota during the past week, prices yesterday were 47.4 cents per gallon higher than the same day one year ago and are 4.7 cents per gallon higher than a month ago. The national average has increased 3.4 cents per gallon during the last month and stands 37.9 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on November 27 in Minnesota have ranged widely over the last five years: $1.97/g in 2016, $1.97/g in 2015, $2.68/g in 2014, $3.11/g in 2013 and $3.31/g in 2012.
Areas near Minnesota and their current gas price climate:
• Wisconsin- $2.51/g, down 5.0 cents per gallon from last week’s $2.56/g.
• Fargo- $2.29/g, down 4.0 cents per gallon from last week’s $2.33/g.
• Twin Cities- $2.50/g, down 1.8 cents per gallon from last week’s $2.52/g.
“With Thanksgiving travel now behind us, all eyes turn to OPEC and their meeting this week to determine the fate of the cartel’s oil production,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Gasoline prices took a breather heading into Thanksgiving, which may last another few days, but as oil prices perk back up heading into OPEC’s annual meeting, we may see a rebound soon. OPEC’s decision may reverberate at pumps in the months and year ahead, and while the decision is likely to be an extension of production cuts made at their meeting a year ago, it’s certainly not yet guaranteed. Global oil inventories have already tightened noticeably in the last year and continuing such in the face of rising demand may spur oil prices even higher in the days, weeks and months ahead.”
For LIVE fuel price averages, visit FuelInsights.GasBuddy.com.