Gas Prices Falling As Seasonal Demand Declines
UNDATED (WJON News) -- Averages gas prices have declined for the second week in a row.
Average gasoline prices in Minnesota have fallen 8.1 cents per gallon in the last week, averaging $3.66.
The national average has fallen 9.3 cents in the last week, averaging $3.77.
Gas Buddy says with oil prices struggling a bit after reaching $93 after OPEC's decision to cut oil production, many regions could see falling gas prices again this week as demand continues to decline seasonally. Gas Buddy says the decline should continue into the fall, and is unrelated to the coming election.
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While gas prices are falling, the average price for diesel has risen 4.0 cents and stands at $5.30 per gallon.
LOOK: See how much gasoline cost the year you started driving
To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.
Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.