(KNSI) — As schools let out for the year and the summer travel season starts, AAA is reporting a major drop in gas prices in just the last week.
This is the second straight week of decline as crude prices remain under $100 a barrel, cooling gas prices. Demand decreased last week from 9.25 million barrels per day to 8.59 million, and production also went down slightly, averaging 9.4 million barrels per day. Meanwhile, domestic gas supply increased by 3.4 million barrels.
The statewide average in Minnesota today is around $4.03. A week ago, it was $4.20. Locally, the current average around St. Cloud is $3.85, down two cents from yesterday and around 21 cents from a week ago. At the beginning of May, drivers were paying $4.16.
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