Gas prices continue to fall in Minnesota, Iowa

(ABC 6 News) – Average gasoline prices continue to fall across the county including in Minnesota and Iowa.

According to GasBuddy, average gasoline prices in Minnesota have fallen 11.0 cents per gallon in the last week, averaging $2.96/per gallon on Monday. Prices across the state are 51.4 cents per gallon lower than a month ago and 12.4 cents per gallon lower than one year ago.

The cheapest station in Minnesota was priced at $2.43/per gallon, while the most expensive was $3.49/per gallon.

In Iowa, average gasoline have fallen 10.3 cents per gallon in the last week, averaging $2.86/per gallon on Monday. Prices in Iowa are 56.3 cents per gallon lower than a month ago and stand 15.5 cents per gallon lower than one year ago.

The cheapest station in Iowa was priced at $2.31/per gallon, while the most expensive was $3.58/per gallon.

Meanwhile, the national average price of gasoline has fallen 11.9 cents per gallon in the last week, averaging $3.09/per gallon on Monday. The national average is down 57.1 cents per gallon from a month ago and stands 20.0 cents per gallon lower than a year ago, according to GasBuddy.

“The national average for a gallon of gasoline is down nearly $2 compared to six months ago, and heading into Christmas travel week, is at its lowest in a year and a half, saving Americans some $750 million every day,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the decline should take the national average under $3 per gallon in the next week or so, it is soon likely to fade as oil prices have held in the $70 per barrel range. But while the declines for gasoline may fade, diesel prices still have considerable ground to cover, and could fall another 50 cents or more in the weeks ahead. Fuel prices across the board have been plunging back into territory more Americans feel is normal, which could certainly boost economic sentiment going forward.”

The average price for diesel in Minnesota has fallen just 2 cents in the last week and stands at $4.52 per gallon. In Iowa, the price for diesel has fallen 12 cents in the last week and stands at $4.38/per gallon, and the national average price of diesel has fallen 14.1 cents in the last week and stands at $4.77 per gallon.