How High Will Gas Prices Go?
MINNEAPOLIS (WCCO) — How high will local gas prices go? A veteran dealer says it’s getting harder to predict.
Ted Brausen owns a station in Arden Hills and is a past president of the Minnesota Service Station Association.
“It’s really not a supply and demand situation anymore” says Brausen. “I dunno — it’s a crazy business.”
Brausen says gas prices are now driven by oil futures and subject to the volatility in such places as Libya. But there’s at least a drop of optimism.
“I still think the price is going to come down a little bit before summer. But I think it has a lot to do with what goes on over in the Middle East.”
The website www.twincitiesgasprices.com puts the average price in the metro area at around $3.30 a gallon. That compares with $3.16 just a week ago.