Winter Blend Expected to Push Gas Prices Up in November
Hurricane Ida and the increased demand on gas pushed gas prices up locally in the past week. St. Cloud State Economist and Dean, School of Public Affairs, King Banaian joined me on WJON today. He expects gas prices to drop slightly after Labor Day weekend and continue to fall through October. Banaian says gas prices will likely go up in early November when gas in Minnesota moves to the winter blend. He says many gas stations will drop prices in October to sell their remaining summer blend before making the switch.
Banaian says gas stations in Minnesota don't get their supply from areas affected by Hurricane Ida but the locations they do get gas from may have been affected by it which has impacted the supply available to be distributed to Minnesota stations.
To hear my full conversation with King Banaian it is available below.