CHICAGO — It may have been Memorial Day weekend on the calendar, but drivers in Minnesota did not get a holiday from gas prices. Fuel costs took a measurable leap last week as the unofficial summer travel season rolled out.
Price-saving app GasBuddy says the cost of fuel jumped 14.6 cents in the greater Twin Cities, pushing a gallon of unleaded to an average of $3.36. The app's regular survey of 1,106 metro area stations found the lowest price Monday was $2.82, while the highest was $3.59, a difference of 76 cents that underlines the impact of shopping around when looking to fill up.
GasBuddy says prices in Twin Cities are 8.3 cents per gallon higher than a month ago, but 15.3 cents per gallon lower than on this date one year ago. Four years ago in 2020, gas was selling at just $1.89 per gallon.
Nationally, fuel was up just 1.2 cents last week. So why higher here? GasBuddy head of petroleum analysis Patrick De Haan says prices "cycled" as Twin Cities stations cut prices for the better part of six weeks. Retailers ran out of room to lower prices and cycled higher, but De Haan expects costs to drift lower again. He adds that some minor refinery issues in Chicago may also play a role in the increase.
"Most states are seeing prices slightly below their 2024 peak thus far, with some refinery issues in the Great Lakes weighing on prices there while other areas, like the West Coast, have seen notable relief with more coming," De Haan said. "June tends to be a month of smooth sailing, where we see gas prices decline in most areas, and that's a trend that looks the most likely for drivers, barring unexpected refinery snags or a tropical storm developing. The national average over Memorial Day was down ever so slightly compared to last year—after adjusting for inflation, prices were down about 10 cents per gallon. Not a terrible way to kick off summer."
Here are some additional numbers to consider from last week's survey:
Minnesota/entire state - $3.32/g, up 11.1 cents per gallon from last week's $3.21/g.
Wisconsin- $3.41/g, up 4.1 cents per gallon from last week's $3.37/g.
Sioux Falls- $3.10/g, down 3.0 cents per gallon from last week's $3.13/g.
GasBuddy said its survey of stations in Minnesota and across the country is updated 288 times each day, covering 150,000 stations across the country. You can compare prices at various stations by visiting their website.
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