Farm Industry News Blog

Did you get hit by the gas price spikes this week?

Gas prices spiked in Minnesota this week and in other areas around the Midwest. Were you affected?

Gas prices may have come as a shock to you if you filled up in the Midwest today. Here in the Twin Cities, gas prices soared over $4 per gallon for unleaded fuel, up from an average of $3.85 just two days ago on May 14, according to GasBuddy.com. Average prices in the area were $4.19 per gallon today. Reports from the Bloomington, Minn., area were showing prices as high as $4.29. This represents the highest statewide average gas price in Minnesota on record. The previous record high for Minnesota statewide gas prices was $3.98 in July of 2008.

The price spikes this week have been seen around the Midwest. Minnesota appears to be affected the worst.

The reasons behind the spike point to refineries switching over to summer-grade gasoline blends. Also, oil refineries that supply to Midwestern states like Minnesota have been diverting output to states to the east to relieve shortages occuring there now.

In a blog post today on GasBuddy.com by Patrick DeHaan, he says:

"Another big question: how long will it last and how high will prices go? At this writing, prices may continue rising in these seven Plains states (MN, SD, ND, KS, IA, NE, MO) for perhaps as long as another week or two. High prices may linger if motorists continue to flood enmasse to fill their vehicles. Prices will probably not come back to the high $3s for several weeks. Prices may remain high in these areas until late May or early June."

What's the bright side for farmers? Diesel prices aren't as high as unleaded. Reports on GasBuddy in the Twin Cities are in the $3.90 range. But the Energy Information Administration's May 13 report shows that diesel prices have been on a recent upward trend. The average diesel fuel price for the Midwest jumped from $3.608 per gallon on May 6 to $3.67 on May 13. The next report from EIA will be released on May 20. GasBuddy searches for today's diesel prices in ND, WI and IA are showing prices in the $3.70-$3.90 range.

Even though diesel prices may not be as high as unleaded right now, this still comes at a bad time for Midwestern farmers as many have finally been able to get out into the fields and plant. It's a busy time when much of the farm machinery needs to be running.

Does your truck/farm vehicle run on deisel or unleaded? Have you been affected by the gas price spikes this week? Leave your comments below.

Discuss this Blog Entry 18

on Dec 28, 2013

I also got hit by the gas price spikes, but It`s a good thing that the Senate wants to exempt taxes for hybrid vehicle owners. Now I've just got to go to NJ Chevy and see how much my car is worth now, and exchange it for an EV.

Dan Trevor (not verified)
on Jan 20, 2014

Our prices here in Salisbury, NC rose 16 cents a gallon that began Nov 18, a 6 cent increase. Then on Nov 20 another 5 cent increase and on Nov 22 yet another 5 cent increase. We went from 3.139 to 3.299. Heard nothing on the news, on atmore or in our newspapers on why. I figure with the busiest travel day coming up, prices will rise per demand. We shall see what happens afterwards.

on Jan 27, 2014

Our prices here in Salisbury, NC rose 16 cents a gallon that began Nov 18, a 6 cent increase. Then on Nov 20 another 5 cent increase and on Nov 22 yet another 5 cent increase. We went from 3.139 to 3.299. Heard nothing on the news, on DPAA or in our newspapers on why. I figure with the busiest travel day coming up, prices will rise per demand. We shall see what happens afterwards.

on Jan 29, 2014

I'm in central Iowa visiting relatives, and I've noticed something strange: gas stations are selling 'Super Unleaded' high-octane gas for as much as 10 cents less than 'Regular Unleaded'. This is not the kind of situation you would read about on http://www.acplumbingsomd.com/. At first, I thought it must be a mistake, but I've since noticed it in other gas stations, even those of other franchises. How can this be profitable/economically sensible for them?

on Jan 30, 2014

I think the hike in the gas price is random now-a-days. So, the government must have to do something or we can say have to manage the price as it is a bit difficult for normal people to afford the same. As we know gas is a normally used thing and we are normally acquainted with it. Now-a-days, cars are also operated with gas. So, as I have mentioned here about cars then I must have to mention one thing that the proper care of the car the better and smoother running we can get. So, when we mark or notice any fault in our car then it is preferable to go for a better car repair center near to us and get the car repaired and service well. When my Mercedes shows some fault I always prefer to choose a good Mercedes Benz Repair center in Los Angeles as I am living in Los Angeles, for the better servicing and repair of my car.

on Feb 24, 2014

Four friends of mine from XtremeDiesel and I are interested in starting a Fantasy Formula 1 league. Now, I know there are already several pages out there with available formats, but I have my problems with them. Could you help me point out any obvious flaws with my model?

on Feb 28, 2014

Yes, I still remembered that day. The hike in price was a nightmare. But, the government must have to put more attention on the same topic and have to be aware of it. It is being difficult for a normal person to deal with such facts. I think we all badly need a fuel efficient car now-a-days. Also, we have to be more attentive towards our environment and have to use environment friendly cars. I am mentioning here about environment friendly cars because, the cars are contributing the more in environment pollution. So, if we use environment friendly cars then we can minimize the pollution level of our environment.
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on Mar 9, 2014

Here in Berkeley, CA, only a handful of cheap gas stations have their cheapest gas under $2. Places like Chevron, Shell, are around $2.09 for the "regular" stuff. When I was driving around in San Francisco last week with a friend who has used cars for sale in Pittsburgh PA, I couldn't find a single place with gas under $2. Maybe the locals know where they're all hidden..

on Mar 16, 2014

Gas prices did in fact spike to $5.00 a gallon in some areas of St. Louis, Kansas City and Oklahoma. All Conoco stations that have spiked their prices will have their licenses immediately revoked. I was low and filled up because if there had been traffic, I could have been that idiot that runs out of gas in the middle of a four lane highway. I think I should take a look on http://www.mkmcustoms.com/ because I need a new car, one that has great mpg.

on Mar 18, 2014

Even though diesel prices may not be as high as unleaded right now, this still comes at a bad time for Midwestern farmers as many have finally been able to get out into the fields and plant. It's a busy time when much of the farm machinery needs to be running. source: Android APK

on Mar 24, 2014

My car costs me a lot in gas and maintenance. What proactive maintenance is worth doing on a car with 120,000 miles on it? I have a 2000 VW Golf automatic trans with 120,000 miles on it. Id like the keep the car until it basically drops say 200,000 miles. I did the usual oil changes, brake jobs, tires. etc and I've got my eye on one of the cars from www.mustangsplus.com. I would like to invest in a car that I would love to own and to drive.

on Apr 5, 2014

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on Apr 15, 2014

Thank you for the strategy, I will read more here and I will apply this solution!

on Apr 16, 2014

I was in the same situation, it is good that I had a good insurance! www.rechtsanwalt-tipps.de/rechtsanwalt-muenchen-1

on Apr 16, 2014

I am sure that the price will be higher sometimes soon so I will make some reserves!
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on Apr 16, 2014

Oh yes i did. Living in Europe has become harder and harder by each day. I was just looking on http://wilsonofamestoyota.com/ at a new car to buy because the one that i have now is giving me headaches. I am tired of throwing money to the window.

on Apr 17, 2014

I was actually talking with my friend Meyer about this and we are quite sad that the gas price went up again and our income has not. We were planning a big road trip and i don't know if we can afford it now.

on Apr 17, 2014

I have found more info here than on the news. I can't understand how the media isn't covering that well the gas price. I think that everybody should know this before making certain decisions travels for example.

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