Gas prices in Minnesota at highest level since 2014
As the Memorial Day weekend draws closer, Minnesotans are looking at the highest gas prices they've seen in several years.
The average price of a gallon of gas in Minnesota on Sunday was about $2.83 a gallon — about 10 cents higher than a week ago, according to the price-tracking website GasBuddy.com. At this time a year ago, the average price in Minnesota was about $2.29 a gallon.
Patrick DeHaan, head of petroleum analysis at GasBuddy, said the statewide average in Minnesota is at its highest level since 2014.
Nationwide, the average price of regular-grade gasoline has jumped 10 cents a gallon over the past two weeks to $3.
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Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price has spiked 41 cents over the past three months.
Lundberg said the increase is largely driven by higher crude oil costs and the phasing-in of summer-grade gasoline, which is used to prevent smog. DeHaan said factors driving up prices also include Venezuela's economic troubles and the United States' withdrawal from the Iran nuclear deal.
The highest average price in the contiguous 48 states was $3.79 in the San Francisco Bay area. The lowest was $2.54 in Baton Rouge, La.
The average price for diesel fuel rose 9 cents, to $3.23.