MINNEAPOLIS (WCCO) — Consider it a gift that’s coming in a little late: the lowest gas prices we’ve seen in nearly two years.
The average cost for a gallon of regular unleaded right now in Minnesota is $3.06. In many parts of the state, it’s below $3 a gallon.
This fall in prices is especially welcome considering Americans paid more for gas than ever before last year.
Relief…A Long Time Coming
One of the reasons for the price dip is the switchover to less expensive winter-blend fuels.
Gail Weinholzer, AAA’s director of public affairs, said that with so many people worrying about the economy, consumers are spending less at the pump.
“Our supplies are fairly high, demand, of course, is low,” Weinholzer said.
Politics in the oil-rich Middle East also plays a big part as far as prices go.
“The more calm the Middle East is, the better prices are for us,” Weinholzer said.
Related: Find The Cheapest Gas Near You
Higher prices will likely be seen once the switchover is made back to the summer-grade fuel in early April.
“For the foreseeable future, we see no significant increases,” Weinholzer said.
That’s good news for everyone.
Gift That Keeps On Giving
The indirect effect of lower gas prices is lower cost on things like milk.
Why? It doesn’t cost as much to get this milk to gas stations and grocery stores.