Gas prices are back on the rise
(ABC 6 News) – Once again, gas prices are on the way up.
According to GasBuddy, average gasoline prices in Minnesota have risen 14.2 cents per gallon in the last week, averaging $3.80 per gallon.
Minnesota gas prices are 14 cents higher than a month ago and stand 71.8 cents per gallon higher than one year ago.
GasBuddy reports the cheapest station in Minnesota was at $3.44 per gallon, while the most expensive was $4.73 per gallon. The numbers are reflected as of Sunday.
Meanwhile, the national average price of gas has risen 13.8 cents per gallon in the last week, averaging $3.92 per gallon which is up 22.5 cents from a month ago and 67 cents per gallon higher than one year ago.
“With OPEC+ deciding to cut oil production by 2 million barrels a day, we’ve seen oil prices surge 20%, which is the primary factor in the national average rising for the third straight week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Some of the refinery snags that have caused prices to surge in the West and Great Lakes appear to be improving, with prices in those two regions likely to inch down, even with OPEC’s decision, as the drop in wholesale prices has offset the rise due to the production cut. But where gas prices didn’t jump because of refinery issues, they will rise a total of 10-30 cents due to oil’s rise, and some areas are certainly seeing the jump already.”
Neighboring areas and gas prices (as of Sunday):
Wisconsin- $3.97/g, up 5.6 cents per gallon from last week’s $3.92/g.
Iowa – $3.71/g, up 13.6 cents per gallon from last week’s $3.56/g.
Twin Cities- $3.85/g, up 15.9 cents per gallon from last week’s $3.69/g.