Average gas prices in MN surpass $4 per gallon
(FOX 9) - The average price for a gallon of gas in Minnesota has surpassed $4, according to the latest survey by GasBuddy.
Gas prices jump in MN
What we know:
According to GasBuddy's survey, gas prices in Minnesota jumped week-to-week by nearly a quarter, going from $3.79 per gallon to $4.05. In the Twin Cities metro, the average price for a gallon of gas is just slightly higher at $4.08 per gallon.
Statewide, the cheapest gas station in Minnesota was priced at $3.69 per gallon, while the most expensive was a whopping $4.91 per gallon.
The backstory:
This is the highest gas price spike for Minnesota since the summer of 2022 as prices surged due to the Russian invasion of Ukraine and as there was a strong demand for fuel after COVID lockdowns.
Local perspective:
Like Minnesota, prices in Wisconsin are also well over $4 per gallon, jumping a whopping 45 cents week-to-week. The average price for gas in Wisconsin is now $4.37 per gallon for regular.
Gas prices spike
Big picture view:
Nationwide, average gas prices have risen more than $1.70 since January, driven primarily by tensions in Iran. On Monday, the price of a barrel of Brent Crude jumped by 5 percent amid escalations in violence in the Middle East.
What's next:
On Sunday, President Trump revealed a new plan to help ships navigate the Strait of Hormuz, called "Project Freedom." The plan would include providing escorts for ships traveling through the strait, including the support of 100 aircraft, 15,000 service members, and guided-missile destroyers. However, it's unclear exactly how those resources would be deployed.