St. Cloud State Economist King Banaian joined me on WJON today. King says the gas prices dropping below $2.00 a gallon is an indication that the summer travel season is over and that less people will be doing driving vacations anytime soon. He says many Minnesotans chose to do their "holidays" within driving distance largely within the state.
Gas prices could be declining soon. That according to St. Cloud State Economist and Dean, School of Public Affairs, King Banaian. Banaian joined me on WJON today. He expects gas prices to drop this fall.
With yet another winter storm on the way this weekend, it's hard to think of summer travel. However, we promise it will be here soon, and the gasoline bill shouldn't be too bad.
Did you notice the price of gas is climbing, not dropping? Just a couple weeks ago it was $1.40/gallon, and now it's $1.95 per gallon! How high is it supposed to get?
The nation's average for a gallon of gas is about $1.69, but the prices in Minnesota are even better!
Minnesotan's are paying on average about $1.45. While the week before we were paying $1.58.
Source: WCCO CBS Minnesota
The gas-tracking website gasbuddy.com says some Midwestern states could see gas prices drop below a dollar a gallon later this year. GasBuddy reports that nine states in the nation are currently witnessing the lowest average gasoline prices since early 2004.