MINNEAPOLIS — Gas prices are currently low, making it a great time for a summer road trip. AAA reports that the average price per gallon in Minnesota is over 40 cents lower than it was last year. GasBuddy data shows that prices in Minnesota are around $3.30 to $3.37 per gallon.
Dave Vang, a finance professor at the University of St. Thomas, notes that prices are relatively low compared to recent trends. He attributes this to a healthy global oil supply and Minnesota’s refineries running at full summer capacity.
Vang adds that prices might rise in the fall when refineries switch to winter blends. Additionally, potential geopolitical issues could impact global oil supply.
As of Sunday night, GasBuddy reports that the cheapest gas near the Twin Cities is at Kisch Oil in Dayton, near Maple Grove, priced at $3.00 per gallon, which is about 45 cents below the average.