Average retail gasoline prices in Minnesota have fallen 23.3 cents in the past week, averaging $4.04 per gallon Sunday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota. This compares with the national average that has decreased 2.3 cents per gallon in the last week to to $3.65, according to gasoline price website MinnesotaGasPrices.com.
Gas prices in International Falls ranged from $4.16 to $4.34, according to the site.
U.S. Senators Amy Klobuchar and Al Franken last week introduced legislation to help prevent spikes in gas prices. After the closure of several oil refineries in the Midwest region for maintenance over the last few weeks, gas prices have surged to over $4 a gallon in Minnesota. The senators’ legislation would require refineries to report their maintenance schedule to the Department of Energy to prevent simultaneous closures and help avert future shortages.
“As we head into one of the busiest travel weekends of the year, Minnesota’s record high gas prices will have a real impact on families and businesses across our state,” Klobuchar said in a May 23 statement. “Scheduled maintenance at refineries should not be allowed to cause such major disruptions in supply. This legislation would help refineries and the Department of Energy coordinate the timing of maintenance to stop preventable shortages before they start.”
“This recent spike in gas prices hurt families and businesses in Minnesota, and I’m committed to doing everything I can to make sure it doesn’t happen again,” Franken said in a statement. “Our legislation would help prevent gas prices from skyrocketing when refineries have to shut down by helping ensure that we avoid simultaneous refinery outages so our supply remains intact. It’s a commonsense fix that will help protect Minnesotans’ wallets.”
The legislation would require refineries to report to the Department their schedule for maintenance that would bring any refineries off line. The bill would also require refineries to immediately tell the Department when they are experiencing unplanned outages. Finally, the bill asks the Secretary of Energy to look at the potential for additional fuel storage in the region to address the low storage capacity that makes the region especially vulnerable to shortages.
Including the change in gas prices in Minnesota during the past week, prices Sunday were 48.2 cents per gallon higher compared to the same day one year ago and are 54.2 cents per gallon higher than a month ago. The national average has increased 16.8 cents per gallon during the last month and stands unchanged compared to this day one year ago.
“Memorial Day weekend is now over, and believe it or not, many areas saw gasoline prices declining ahead of the long weekend,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “The U.S. national average dropped nearly three cents per gallon in the last week, while some areas saw an even bigger decline. The best news for motorists is that June typically brings some relief at the pump compared to where prices peaked in May, so for many areas across the country, prices will likely continue to decline,” DeHaan said.
