ROCHESTER, Minn. (KTTC) — There’s one thing that should give you a big smile tonight and tomorrow as you head out for your New Year’s gatherings–gasoline pump prices are down again and now they’re under $2 a gallon in Rochester.
A few weeks ago we first reported to you that gasoline prices were going to keep spiraling downward, with an oversupply of crude oil hitting world markets.
Technology company GasBuddy said Monday that pump prices in Minnesota dropped 4.7 cents a gallon in the last week alone. Average prices are 26.3 cents per gallon lower than a year ago, at $2.07/gallon statewide.
The national average for gas prices is $2.25 a gallon.
The head of petroleum analysis for GasBuddy, Patrick DeHaan, said the plunge in prices might continue for another couple of weeks.
“The plunge has seen sub-$2 gas prices show up at over a third of all gas stations in the country while eleven states have seen average prices dip under the $2 level,” said DeHaan, in a statement to news organizations. “The most common price at gas stations in the U.S. is now $1.99 per gallon while the second most common price is just $1.89.”
At the end of 2015, gasoline prices in Minnesota were averaging $1.87/gallon, but it has jumped higher the past two years.
Count Your Blessings Dept.: contrast today’s news with the price on December 31, 2013 when it was $3.21/gallon.