Gas Prices At Their Lowest In Four Years
MINNEAPOLIS (WCCO) – Gas prices have fallen steadily over the past few months and they're currently at their lowest level in about four years as we transition into winter.
Consider it an early Christmas present for Minnesota drivers. And the trend doesn't appear to be changing any time soon. Experts say the current price in Minnesota on average is $2.53 per gallon of fuel. That's down about 40 cents from last month, when it started to dip below $3 at $2.94 per gallon.
This time last year in Minnesota, gas cost about $3.01 per gallon, and the currently national average is about $2.67 per gallon.
So what's with the sudden drop in prices? Experts say lower crude oil prices are continuing to drive pices down, along with an abundant oil supply and the rising value of the U.S. dollar. The highest price gas the in lower 48 states right now is in San Francisco, where gas is currently $3.04 per gallon. The lowest is in Albuquerque, New Mexico, where it's currently about $2.38 per gallon.