MINNEAPOLIS (WCCO) — In which feels like a holiday gift for drivers, gas prices are at a record low for the year.
Industry analyst Trilby Lundberg says falling crude oil costs are the main reason for the decrease at the pump.
The national average price of a gallon of regular-grade fuel is at $2.42 according to AAA.
That price is down 28 cents from the previous month.
In Minnesota, we’re paying on average $2.30 per gallon, although in the Twin Cities, the average is a little higher, at $2.35 per gallon.
Experts say a big reason behind the plunge is a drop in the price of crude oil. A barrel going for $76 at the beginning of October is now just $51.
A spike may come sooner rather than later. An annual meeting of OPEC, the Organization of Petroleum Exporting Countries, will happen later this week in Vienna, and the price of crude oil is set to be a big topic of conversation.
For up-to-the-minute gas prices, click here.