Gas prices in Minnesota have fallen to some of the lowest in the country. The average price for a gallon of unleaded gasoline in the state on Tuesday was $2.99. Only Missouri, Oklahoma and Kansas had a lower average, and that was by a fraction of a penny in most cases, according to AAA Fuel Gauge Report surveying daily gas prices.
It is nice to see boards displaying gas prices showing the first digit as a $2 instead of a $3 or $4 like it nearly did last summer when refinery problems in the Midwest caused gas to spike.
Now with ample supplies, prices are heading the other way.
Here is an explanation according to AAA:
Retail gas prices nationwide moved lower following the end of the summer driving season in September and approaching Thanksgiving, as plentiful supplies, flat demand and falling crude oil prices combined for welcome and often dramatic relief at the pump for motorists.
Price-movement over the last several weeks has been a mixed bag at the state level, and while pump prices in 20 states have continued to march lower, prices in 30 states and Washington, D.C. have drifted higher. These monthly declines have been led by drops of more than a dime in Montana, Hawaii, Wyoming and Colorado and more than 20 cents in Utah and Idaho. Rising prices have included a 22-cent increase in Florida and increases of more than dime in 12 other states and D.C.
In Minnesota, the daily average dropped from $3.00 Monday and from $3.05 last week. A month ago the average price was $3.06 and a year ago we were paying $3.20