Minnesota gas prices dip as another Iran deal reportedly in works
Iran war talks resume Monday as Trump calls off strikes
President Trump says new talks to end the war with Iran are set for Monday after backing away from his threat of major escalation. FOX's Doug Luzader reports.
(FOX 9) - Average gas prices in Minnesota dipped under $4 this week as another potential deal to end the Iran War is now reportedly in the works.
Twin Cities gas prices drop but remain high
What we know:
GasBuddy reported the average price for gasoline in the Twin Cities was $3.97 per gallon. That average fell 12.3 cents from the previous week, but is still 32.3 cents higher than a month ago and 91.1 cents higher than the same time last year.
The price range in the Twin Cities was wide, with the lowest reported price at $3.49 per gallon and the highest at $5.69 per gallon.
Minnesota and Wisconsin gas prices
By the numbers:
Across Minnesota, statewide prices ranged from $3.43 to $5.99 per gallon. The statewide average was $3.94 per gallon, down 10.1 cents from a week earlier.
In Wisconsin, gas prices increased with the statewide average moving to $3.95 per gallon, up 6.9 cents from the previous week.
The national average for gasoline was $4.05 per gallon, down 0.8 cents from the week before, up 28.5 cents from a month earlier and 93.6 cents higher than a year ago.
What they're saying:
GasBuddy Head of Petroleum Analysis Patrick De Haan said the national gas price average could see an unfortunate milestone later this week.
"Average gasoline prices were a mixed bag across the country last week as oil markets went on a wild ride, surging on geopolitical tensions before pulling back Sunday night after President Trump signaled a potential deal may be in the works," said De Haan. "However, even as oil prices ease on deal optimism, continued Ukrainian attacks on Russian oil infrastructure are driving refined product prices higher as output plummets, keeping upward pressure on what Americans pay at the pump. By later this week, the national average could reach its highest level ever recorded for this point in the calendar year, a sobering milestone even as prices remain well below the all-time record set in 2022. Motorists should keep a close eye on developments both in the Middle East and in Ukraine, as either front could quickly shift the outlook."
The Source: This story uses information from GasBuddy’s weekly gasoline price report.