Drivers may see the cheapest average fall gasoline prices since the year President Barack Obama was first elected, and home-heating fuel prices could be setting up for another 16-year low. Don Redman with AAA expects that trend to continue as refineries transition to the less expensive winter-grade gasoline.
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Average retail gasoline prices in Minnesota have fallen 3.6 cents per gallon in the past week, averaging $2.18/gallon yesterday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota. Overall gas prices remain lower than last year due to the relatively low price of crude oil with drivers saving an average of 18 cents per gallon compared to a year ago.
Redman says after the October uptick, cheaper gasoline and lower demand should bring gas prices back down as we head into the holiday travel season.
At this time past year, average prices were higher by 14 cents a gallon for regular, 15 cents for premium and 17 cents for diesel.
$2.28 per gallon in 2015; $3.29 per gallon in 2014; $3.57 per gallon in 2013; $3.91 per gallon in 2012; and $3.77 per gallon in 2011. GasBuddy.com said problems at a Chevron refinery in Richmond, Calif., sparked increases in wholesale prices. Thats a penny higher than the lowest price discovered last week in California, says GasBuddy. Gasoline at the beginning of autumn, in late September, was $3.75 per gallon for unleaded gasoline at the pump, according to OPIS data.
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Though the national average was unchanged, prices for regular gas generally rose the past week on the West Coast. The list includes SC where gasoline prices average $1.91 per gallon, Alabama at $1.94, MS at $1.97, New Jersey at $1.98, Texas at $1.98 and Tennessee Virginia where prices have dropped to $1.99.
