As the summer travel boom approaches, gas prices in the Twin Cities have taken a sharp turn upward, according to data reported by KARE 11. In a sudden jolt to commuters and travelers alike, the cost of a gallon of unleaded gasoline has surged by an average of 14.6 cents to $3.36 in the Twin Cities metro area. This hike comes just as the region slides into the much anticipated Memorial Day weekend, sparking concerns over travel expenses.
Despite the national average ticking up a meager 1.2 cents last week, locals faced a steeper climb on the pricing ladder. With significant dips and gains in fuel costs, Minnesota drivers are advised to shop around, with GasBuddy noting a wide 76-cent range between the lowest and highest gas prices found across 1,106 metro area stations. Irregularities in the market, underscored by Patrick De Haan, GasBuddy's head of petroleum analysis, suggest a "cycling" of prices and minor refinery disruptions in Chicago contributing to the increase. He anticipates, however, that prices are expected "to drift lower again," reflecting the unforeseen nature of the industry.
Reflecting on the broader narrative of fuel costs, Stacker report provides a meaningful comparison, citing prices are currently standing at $3.33 statewide, experiencing a modest climb over the past week. This gradual upswing contrasts sharply with last summer's price surge triggered by the geopolitical tensions following Russia's invasion of Ukraine.
In anticipation of a busy travel season, AAA suggests minor fluctuations may occur, but "this week's move by the Biden Administration to sell off the million barrel Northeast Gasoline Supply Reserve might help stave off any regional pump price surges," said AAA spokesperson Andrew Gross. Travelling just got a bit more predictable with GasBuddy's holiday forecast expecting gas prices to hover around the $3 mark throughout the summer, providing some relief for vacation planners.
While Minnesota grapples with increased gas rates, contrasting data from Stacker highlights neighboring Wisconsin's modest rise of 4.1 cents per gallon, and even a price decline in Sioux Falls. In traversing this labyrinth of fluctuating fuels, GasBuddy's daily survey, covering 150,000 stations nationwide, remains an invaluable tool for consumers in pursuit of the best pump prices.
