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Gas Prices Lower



MANKATO (TEC News) -- Motorist around the country paid a national average of $3.55 per gallon of gas during the month of April -- the least expensive monthly average since 2010.
 
The lower prices stemmed from the spring season, which caused a weak demand, ample refinery production, and lower oil prices, just $87 per barrel, which was the lowest price since December 2012, according to AAA.
 
Despite the lower prices, the national average price of gas for April 30 was still $3.51 per gallon, which is the fourth highest for that specific day on record. However, that price is 31 cents lower than the same day in 2012, and 42 cents lower than in 2011.
 
As of May 2, the average price per gallon in the Mankato area was $3.59, which is just one cent lower than the state's average.
 
Even though springtime gas prices have shown a trend of decreasing during the past few years, 50 percent of U.S. adults believe gas prices are still "too high" when they reach $3.44 per gallon, according to AAA.
 
The lower prices should carry over from spring into summer, with gas prices potentially dropping all the way down to $3.20 per gallon. Refineries tend to "ramp up" production in anticipation of families taking summer trips.
 
During the next few weeks, national gas prices could remain flat or rise slightly as maintenance and production issues continue on. The Great Lakes region could see prices rise as both scheduled and unscheduled maintenance occurs.
 
To compare gas prices in the Mankato area, visit www.gasbuddy.com. 

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