Gas prices up in Minnesota, down nationwide

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As gas prices continue to fall nationwide, Minnesota drivers are paying more at the pump this week according data from GasBuddy.com.

Prices were dropping steadily over the past month, both in Minnesota and across the country, right up until last week when the Twin Cities average price jumped nearly 18 cents. Over the same period of time, the nationwide average fell 8 cents. It wasn't until Saturday that the price in Minnesota overtook the national average.

 Chart via GasBuddy

Chart via GasBuddy

An analyst for GasBuddy said in a recent blog post that prices in the Great Plains states will keep climbing for a few weeks, but only temporarily.

"There has been some supply tightness surrounding seasonal refinery work that's causing wholesale prices in that region to rise," Senior Petroleum Analyst Patrick DeHaan said in the statement.

Gas prices dropping nationwide

 Map via GasBuddy

Map via GasBuddy

Despite the recent jump in Minnesota, the average price of gas in the U.S. was at its lowest level of the year on Saturday, according to GasBuddy's most recent data. Some reports say that number – which is based on surveys from thousands of gas stations across the country – could drop below $3 per gallon for the first time in nearly four years, the Wall Street Journal reports.

WCCO reports the falling prices are coming from a drop in the cost of crude oil. But some experts are saying the low cost of gas is restraining inflation, and that could lead into a destructive chain of events for the country's economy, according to NPR.

But the price of gas responds to both supply and demand, and ABC News reports the rise of the U.S. dollar is helping drive prices down, too.

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