Twin Cities gas prices drop 17.5 cents in a week, now averaging $4.17 per gallon

Gas prices heading into summer driving season

Patrick De Haan with Gas Buddy talks the latest on gas prices and what to expect heading into the summer driving season. 

MINNEAPOLIS (FOX 9) - Drivers in the Twin Cities are seeing a break at the pump, but experts say the relief might not last long.

Gas prices fall across Twin Cities and beyond 

What we know:

According to GasBuddy’s survey of 1,106 stations, the average price for gasoline in the Twin Cities is now $4.17 per gallon, down 17.5 cents from last week. The cheapest station was $3.69 per gallon, while the most expensive hit $4.59, showing a 90-cent gap. 

Statewide, the lowest price recorded was $3.48 and the highest was $5.39, a difference of $1.91 per gallon. Across Minnesota, prices dropped 18.5 cents in the last week to $4.12 per gallon. Prices in the Twin Cities are still 9.1 cents higher than a month ago, and $1.16 higher than a year ago.

Nationally, the average price for gasoline is $4.26 per gallon, down 19.5 cents from last week but still $1.18 higher than last year. Neighboring areas like Wisconsin and Sioux Falls also saw declines, with Wisconsin averaging $4.13 per gallon and Sioux Falls at $4.00.

Patrick De Haan, head of petroleum analysis at GasBuddy, said, "Average gasoline prices declined in all 50 states over the last week, with GasBuddy now tracking 15 states where the average price of gasoline has fallen below $4 per gallon, offering motorists some of the most widespread relief seen in weeks."

The national average price of diesel also fell 15.5 cents to $5.437 per gallon.

U.S., Iran agreement

The backstory:

GasBuddy reports that much of the recent decline is tied to falling oil prices and optimism about a possible U.S.-Iran agreement, which has eased concerns about global oil supplies. However, oil prices began rising again Sunday evening due to uncertainty about the deal and renewed Israeli attacks, adding more risk. 

De Haan said, "Much of the decline was driven by falling oil prices and the unwinding of recent price cycles, as growing optimism surrounding a potential U.S.-Iran agreement helped ease concerns over global oil supplies. Diesel prices also posted a substantial decline, falling more than 15 cents per gallon nationally. However, the coast is anything but clear. Oil prices edged higher Sunday evening as uncertainty surrounding a potential deal persisted and renewed Israeli attacks added another layer of geopolitical risk." 

According to De Haan, while drivers may see short-term relief, some areas could see prices rise again soon as retailers run out of room to lower prices.

By the numbers:

Historical gas prices in the Twin Cities show how much things have changed:

• June 1, 2025: $3.01 per gallon (U.S. average: $3.09)
• June 1, 2024: $3.27 per gallon (U.S. average: $3.52)
• June 1, 2023: $3.50 per gallon (U.S. average: $3.54)
• June 1, 2022: $4.38 per gallon (U.S. average: $4.71)
• June 1, 2021: $2.83 per gallon (U.S. average: $3.04)

Local perspective:

For Twin Cities drivers, the drop in prices is a welcome change, but the wide range between the cheapest and most expensive stations means it pays to shop around. With prices still much higher than last year, many are watching for signs of what comes next. 

What we don't know:

It’s unclear how long the current price relief will last or how upcoming global events might impact prices in the Twin Cities and across Minnesota.