Average retail gasoline prices in Minnesota have fallen 3.8 cents in the past week, averaging $2.57 per gallon Sunday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota. Gas prices in Minnesota are 7.5 cents per gallon lower than a month ago, yet stand 21.2 cents per gallon lower than a year ago.
Gas prices in International Falls ranged from $2.54 to $2.67 per gallon, according to gasbuddy.com.
According to GasBuddy price reports, the cheapest station in Minnesota is priced at $2.36 per gallon Sunday while the most expensive is $2.82 per gallon, a difference of 46 cents per gallon. The lowest price in the entire country as of Sunday stands at $1.82 per gallon while the most expensive is $5.49 per gallon, a difference of $3.67 per gallon.
The national average price of gasoline has fallen 6.8 cents per gallon in the last week, averaging $2.63 per gallon Sunday. The national average is down 15.9 cents per gallon from a month ago, yet stands 21.7 cents per gallon lower than a year ago.
Historical gasoline prices for Aug.12 in Minnesota going back a decade:
- 2018: $2.78 per gallon
- 2017: $2.29 per gallon
- 2016: $2.13 per gallon
- 2015: $2.47 per gallon
- 2014: $3.36 per gallon
- 2013: $3.49 per gallon
- 2012: $3.75 per gallon
- 2011: $3.60 per gallon
- 2010: $2.72 per gallon
- 2009: $2.56 per gallon
"The national average price of gasoline has now fallen to the lowest level of the summer, but even better, the lowest since March as gas stations pass along the recent drop in oil prices brought on by the U.S./China trade rift," said Patrick DeHaan, head of petroleum analysis at GasBuddy. "However, the drops in gas prices could slow in the weeks ahead as some OPEC members talk about cutting oil production to stem the recent drop in oil prices. That possibility pushed oil back up $3 per barrel from the lows seen last week. However, a production cut from oil producers may be more akin to putting lipstick on a pig as oil markets have plenty of downside ahead as demand for fuels begins to move lower into the fall with summer driving season ending soon. The U.S. national average could fall an additional 35 cents per gallon by Thanksgiving even after this week's drop should the trade tensions and geopolitical risks remain the same."