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Minnesota gas prices fall to lowest for Thanksgiving travel since 2020

Sarah Ritter, The Minnesota Star Tribune on

Published in News & Features

Gas prices continue to fall in Minnesota with stations selling a gallon of gas for less than $3 on average ahead of peak Thanksgiving travel.

On Sunday, the average price for a gallon of gas in Minnesota was about $2.86, according to GasBuddy.com and AAA, which both track daily gas prices. Gas prices have fallen for the past six weeks in Minnesota, dropping to the lowest average seen in late November since 2020.

The statewide average is about 23 cents cheaper than a year ago, according to data tracked on GasBuddy. The average in the Twin Cities metro was slightly higher at $2.89.

Minnesota’s gas was cheaper than the nationwide average of $3.02 on Sunday afternoon. In a Nov. 17 news release, GasBuddy predicted the national average could fall to about $2.98 per gallon ahead of Thanksgiving.

“Americans are eager to get back on the road and visit loved ones this Thanksgiving, with the vast majority choosing the flexibility and convenience of driving, as gas prices have fallen below $3 in over half of the nation’s states,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in the release.

De Haan said gas prices had fallen “nearly 70 cents from the summer high to their lowest level since 2021, and should provide some relief for Thanksgiving travelers. We expect prices to remain seasonally low leading up to the holidays, making road trips a more affordable option for millions of Americans.”

AAA has attributed the drop in gas prices to lower demand, seasonal trends and increased oil production.

In Minnesota, AAA reported that Pennington County had the lowest average price at $2.57 per gallon. Dodge County had the most expensive gas in the state at $2.99.

 

Minnesota ranked as the 21st cheapest state for average gas prices on Sunday, according to GasBuddy. But its statewide average was slightly higher than in neighboring states. In Wisconsin, gas cost $2.85, followed by North Dakota at $2.80, South Dakota at $2.78, and Iowa averaging at $2.75 a gallon, according to GasBuddy.

Leaders with AAA said in a news release they expect record-setting travel for Thanksgiving, predicting nearly 80 million Americans will travel more than 50 miles or more. That would be an all-time high for the holiday and roughly 1.7 million more travelers than last year.

The group also expects travel by car will beat records nationwide and in Minnesota.

The higher numbers are “driven by economic growth, declining inflation, and strong income gains, which is expected to boost consumer spending by 4.6% compared to this time last year,” the release said.

AAA recorded Minnesota’s average gas price at $3.11 a gallon on Thanksgiving Day last year. The national average was $3.26 on the holiday.

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©2024 The Minnesota Star Tribune. Visit at startribune.com. Distributed by Tribune Content Agency, LLC.

 

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