Gas prices drop nationwide, giving Minnesota drivers an early holiday gift

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The national average for a gallon of gas has hit $3.29 a gallon with Minnesota drivers looking at $3.12.
Wisconsin is even lower at $2.89 a gallon, and data shows that prices are still dropping.

A gas station in Hastings, Minnesota is selling gas at $2.47 a gallon, allowing customers to spend a lot less than they were six months ago.

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“I would rather it be high than low any day,” said Emmanuel Malloy, who had money left over after pre-paying $20 at the pump. “I mean, and I even have three dollars left to pump!”

Another driver, Larry Schinke, was also happy to see the price drop.

“I’d rather use my money for Christmas presents rather than give it to the oil companies, you know they make millions of dollars,” Schinke said.

Those numbers haven’t been seen on gas price signs for more than two years.

But take a 30 minute drive north from Hastings, and prices shoot up to $3.09 per gallon.

Back in May, Minnesotans were paying about $4.22 per gallon. By fall, it was hovering around $3.80.

Experts at GasBuddy say the main reason for the drop is an increase in inventory, with the United States’ stock at a surplus right now.

Demand is also slightly down, with crude oil prices falling about 9% in the last week and a half. Projections show that demand will likely keep coming down.