MINNEAPOLIS — More and more of a Minnesotans' paycheck is going into the tank of their car or truck in recent days, as prices at the pump continue to push upwards both here and across the U.S.
Fuel app GasBuddy says the cost for a gallon of unleaded jumped 18 cents in the past week, up to a Minnesota average of $3.63. That's 31.6 cents higher than a month ago, but 22.4 cents less per gallon than at the same time last year.
GasBuddy says the cheapest station in the Twin Cities was at $3.13 Monday, while the most expensive was $3.99, a whopping 86 cents per gallon more. That underlines how important it is to shop, and not let your tank run so low you fill up at the nearest place possible out of desperation.
As recently as April 17, 2021, unleaded was at $1.68. Gas Buddy's lead analyst blames the recent climb on rising oil prices and the transition from winter to summer gas blend.
"With oil prices touching their highest level of 2023 at nearly $83 per barrel, the national average price of gasoline has continued to inch higher, with 45 of the nation's 50 states seeing prices rise over the last week. While the rising price of oil is likely the largest factor in rising gas prices, seasonal impacts continue to also exert pressure on prices," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Oil prices remain a wildcard, but we're likely a few weeks away from seeing the national average peak. Whether it hits $4 per gallon or not is still perhaps a 50/50 chance."
As for our midwestern neighbors, Wisconsin is averaging $3.53 per gallon, while our friends in Sioux Falls are at $3.46.
For more on gas prices and where you can find the best prices in the Twin Cities and across Minnesota, check out the GasBuddy website or download their app.
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