Gas prices are decreasing despite the Energy Information Administration’s latest report which shows an increase in demand to summer like levels and a decrease in gasoline stocks. The move to cheaper gas prices indicates that demand and supply are potentially leveling out.
According to AAA the average price in Minnesota is $2.71, 3 cents a gallon lower than a week ago. In Iowa the average price is $2.67, 4 cents a gallon lower than last Friday.
The National Average Price is $2.85 per gallon.
Twenty five states, including Minnesota and Iowa, have prices lower than they were a year ago on May 17th.