Twin Cities gas prices drop nearly 17 cents to $3.51 average - KMSP-TV

Twin Cities gas prices drop nearly 17 cents to $3.51 average

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MINNEAPOLIS (KMSP) -

Average gas prices in the Minneapolis-St. Paul metro have dropped 16.9 cents per gallon in the past week, averaging $3.51 per gallon as of Sunday, according to TwinCitiesGasPrices.com

The Twin Cities saw nearly twice the drop in gas prices over the week compared to the national average, which fell nine cents per gallon to $3.67.

Twin Cities gas prices on Oct. 21 were six cents per gallon higher than the same day one year ago but are 31.9 cents per gallon lower than a month ago. The national average has decreased 14.2 cents per gallon during the last month and stands 20.1 cents per gallon higher than this day one year ago.

"Only one other time in the last few years have we seen the national average drop so significantly in the course of just a week, and that other time was in May 2011," said GasBuddy.com senior petroleum analyst Patrick DeHaan. "Looking back at our data, we only see that prices dropped considerably more in autumn 2008 when the economy slipped into a recession. Given the circumstances with this latest weekly decrease- that it has nothing to do with recession- is significant."

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