Analysts Predict Continued Decline In Fuel Prices Ahead

UNDATED (WJON News) -- Gas prices fell last week during the summer holiday.

Gas Buddy says average gasoline prices in Minnesota have fallen 3.9 cents per gallon, averaging $2.99.  The national average price of gasoline has fallen 5.3 cents in the last week, averaging $3.09 per gallon.

The national average price of diesel has decreased 3.2 cents in the last week and stands at $3.64.

The downward momentum may continue after OPEC's weekend decision to boost production by a larger-than-expected 548,000 barrels per day in August.

If tensions in the Middle East remain contained and the Gulf is spared from major hurricanes, the odds are improving that the national average could dip below $3 per gallon later this summer.

In the meantime, we could see the national average falling to its lowest summer level since the pandemic.

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