Twin Cities gas prices drop 15 cents in one week, now averaging $4.04 per gallon

MINNEAPOLIS (FOX 9) - Twin Cities drivers are getting a little relief at the pump, but it may not last long.

Gas prices in the Twin Cities

Average gas prices in the Twin Cities fell 15.0 cents per gallon over the last week, landing at $4.04 per gallon, according to GasBuddy's survey of 1,106 stations in the area. Despite the weekly dip, prices are still 3.8 cents per gallon higher than a month ago and 97.3 cents per gallon higher than a year ago.

What we know:

GasBuddy price reports show the cheapest station in the Twin Cities was priced at $3.49 per gallon while the most expensive reached $4.46 per gallon — a difference of 97.0 cents per gallon. Statewide, the gap was even wider, with the lowest price at $3.44 per gallon and the highest at $4.85 per gallon, a difference of $1.41 per gallon.

By the numbers:

Here's how Twin Cities gas prices compare to the same date going back five years, alongside the national average:

• Aug. 31, 2025: $3.06/g (U.S. Average: $3.15/g)
• Aug. 31, 2024: $3.16/g (U.S. Average: $3.31/g)
• Aug. 31, 2023: $3.71/g (U.S. Average: $3.79/g)
• Aug. 31, 2022: $3.83/g (U.S. Average: $3.81/g)
• Aug. 31, 2021: $3.02/g (U.S. Average: $3.17/g)

What's driving prices

What they're saying:

Patrick De Haan, head of petroleum analysis at GasBuddy, says the modest relief comes as oil prices moved lower, but the bigger picture is more complicated.

"Average gasoline prices fell in slightly more than half of states over the last week while diesel declined in roughly half, as oil prices moved lower and offered some modest relief at the pump," said De Haan. "Over the weekend, the Trump administration struck a major deal with Venezuela, a signal that the White House remains concerned about elevated fuel prices — though in reality, any benefits from increased Venezuelan output will take years to fully materialize and are unlikely to move the needle in the near term."

"The factors with the most immediate impact on where prices go from here remain the ongoing developments between the U.S. and Iran and continued Ukrainian attacks on Russian oil refineries, both of which continue to exert outsized influence on global fuel markets," said De Haan. "Motorists should expect continued volatility in the weeks ahead."

What we don't know:

It remains unclear exactly how much the U.S.-Venezuela deal could eventually affect fuel prices, and the timeline for any impact from increased Venezuelan oil output has not been specified beyond De Haan's note that benefits would take years to fully materialize.

Gas PricesConsumer