Gas Prices Could Be Increasing Soon in Minnesota
Recent events in the Middle East could have Minnesotans paying more at the gas pump soon.
Usually, once we get past Labor Day, gas prices tend to decrease here in Minnesota and in other states across the country. (Except maybe California, where they're always higher, that is.)
We often hear about the 'switchover to the home heating season' as a reason prices temporarily increase in late August, but by mid-September, they've usually settled back down again.
But Minnesotans might be paying more at the pump this September, thanks to recent events in the Middle East. According to this CNN story, a recent drone attack on a major oil-producing area of Saudi Arabia could send prices at the pump higher-- and soon.
The story crude oil prices started increasing after those attacks over the weekend. "The sudden jump in oil prices above $60 a barrel means gas prices are expected to start rising within a few days," the story said, quoting a AAA spokesperson.
But just how much are they expected to increase? Well, that's a pretty good question.
According to GasBuddy.com, gas prices in southeast Minnesota right now range from $2.33 to $2.44 a gallon. But that could increase "10 cents to 25 cents a gallon over the next few weeks," the story said, though any increases could be spread out over several weeks, so we wouldn't necessarily see a huge jump at the pump.
So, even though it doesn't look like it'll be a lot, if you see prices start to rise at the gas pump, this might be the reason. Hold on to your wallet!