Gas Prices Jump 16 May 13

Gas prices jumped by nearly 40 cents a gallon overnight on Wednesday, shocking Minnesotans who likely will feel the sting of higher fuel prices well into summer.

The Star Tribune reports that according to AAA officials who monitor gas prices, relief from four-buck gas could come by the Fourth of July, provided two major Midwest oil refineries are back on line by mid-June and the price of crude oil doesn’t continue to rise.

The average price of gas in the Twin Cities was about $3.85 on Tuesday, just slightly below the record average of $3.99 recorded in June 2008. By Wednesday morning, some pump prices hit $4 a gallon and higher, said Gail Weinholzer, a spokeswoman for AAA Minnesota/Iowa. A lot of callers complained about having to shell out $4.19 a gallon, she said. The lowest price reported to her was $3.99; the highest was $4.30 in the west metro.

According to minnesotagasprices.com, gas in Hutchinson is ranging from $4.00 to $4.11 a gallon. Gas in Glencoe is ranging from $3.80 to $4.20 a gallon.

“There’s a lot of shock, a lot of dismay and a certain amount of anger,” Weinholzer said.