Gas prices drop below three dollars for the first time in about 17 months.
Gas prices all around the country are dropping in prices, but here in Minnesota, it’s nearly the lowest of the low with gas prices dropping all the way down to $2.84 a gallon in Freeborn county Minnesota. In Sartell, gas droped down to $2.99 in gas stations including Holiday and Kwik trip.
According to eia.gov, in the beginning of the Covid-19 pandemic and shut down, in May of 2020, the average gas prices in MN got as low as $1.52, and by July of 2022, we reached a peak price of $4.70 a gallon as an average price in MN. The high demand of gasoline and rising cost of crude oil caused the rampant increase in gas prices amidst the Covid-19 pandemic and even past that. Due to the lowering seasonal demand in years, the gas prices in the U.S. are on a current decline.
Todays national average for a gallon of gas is 40 cents lower than it was this time last year, caused by lower demand and lower cost for crude oil.
