Gas Prices

Gas prices are rising with oil prices last week reaching their highest level since July. Diesel prices have also jumped, driven by cold weather that has boosted heating oil demand. Average gasoline prices in Minnesota have risen 9.0 cents per gallon, averaging $3.04. The national average price of gasoline has risen 6.5 cents per gallon, averaging $3.09. The national average price of diesel has increased 8.1 cents in the last week and stands at $3.60. Gas Buddy says with President Trump's inauguration this week, there could be price impacts depending on the executive orders he is preparing to sign. The threat of tariffs and possible retribution from Canada remain top of mind. The current increase in gas prices is not yet the traditional seasonal rise, which is also likely to push prices higher in a few weeks.