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The price of fuel oil per gallon in Minnesota varies depending on the location and type of fuel oil. For instance, as of July 2019, the average price of Fuel Oil #2 per gallon in Minneapolis-St. Paul-Bloomington, MN was calculated by the Federal Reserve Bank of St. Louis. On the other hand, AAA Minnesota's average gas price was $2.955 per gallon.
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What You'll Learn
Average fuel oil prices in Minnesota
The average price of fuel oil in Minnesota varies across the state. As of July 2019, the average price of Fuel Oil #2 per gallon (3.785 liters) in Minneapolis-St. Paul-Bloomington, MN-WI was $2.955. This price includes applicable federal, state, and local taxes. It's important to note that fuel oil prices can fluctuate over time and may be different in other parts of Minnesota.
Several factors influence the price of fuel oil in Minnesota. One factor is the cost of crude oil, which is the primary input for refining fuel oil. The price of crude oil can vary due to global supply and demand dynamics, geopolitical events, and economic conditions. Additionally, the cost of refining and distributing fuel oil can also impact the final price that consumers pay.
The type of fuel oil being purchased can also affect the price. For example, Fuel Oil #2, which is commonly used in residential and commercial heating systems, may have a different price per gallon than other types of fuel oil used for different purposes. Additionally, the quantity purchased can sometimes impact the price per gallon, with bulk purchases potentially resulting in a lower price per unit.
Seasonal variations can also impact fuel oil prices in Minnesota. During the winter months, when heating oil demand is typically higher, prices may increase due to higher consumption and supply constraints. On the other hand, during the warmer months, prices may decrease as demand for heating oil decreases.
It's always a good idea to shop around and compare prices from different suppliers before purchasing fuel oil. Additionally, keeping up-to-date with market trends and staying informed about any changes in taxes or regulations that may impact fuel oil prices can help consumers make informed decisions and manage their energy expenses effectively.
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How fuel prices in Minnesota are calculated
Fuel prices in Minnesota are calculated by taking into account various factors, including the cost of crude oil, refining margins, distribution and marketing costs, and taxes. The cost of crude oil is a significant factor in determining fuel prices, as it is a raw material for gasoline and diesel fuel. The price of crude oil can fluctuate due to changes in global supply and demand, as well as geopolitical factors.
Refining margins refer to the cost of refining crude oil into usable fuel products. This includes the cost of labour, equipment, and utilities required in the refining process. Distribution and marketing costs include the expenses incurred in transporting the refined fuel to retail locations and promoting the fuel products to consumers.
Taxes and duties imposed on fuel products also contribute to the final price at the pump. These taxes may include state and federal excise taxes, sales taxes, and other levies specific to the state of Minnesota. Taxes are used to fund various infrastructure projects, such as road maintenance and improvement, as well as environmental initiatives.
The fuel prices in Minnesota can vary across different regions and counties within the state. This variation may be attributed to differences in local taxes, transportation costs, and competition among retailers. County average gas prices are updated daily to reflect any changes in the price per gallon.
As of July 30, 2025, the average fuel price in Minnesota was $2.955 per gallon, while the national average was $3.140 per gallon. These prices can fluctuate over time due to changes in the factors mentioned above. Fuel prices play a significant role in the economy and can impact transportation costs, inflation rates, and consumer behaviour.
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How to claim a fuel tax refund
The price of fuel oil per gallon in Minnesota is not available, but the state does have a petroleum tax and a motor fuel excise tax.
Minnesota's special fuel tax law requires licensed distributors to pay the special fuel excise tax on sales of undyed diesel fuel and undyed kerosene. Distributors can, however, receive a credit for the tax paid on the following tax-free sales:
- Sales of fuel to the US government
- Exports of fuel out of Minnesota for product consigned to this state
Licensed distributors may claim credits based on the current filing requirements. Unlicensed distributors may claim tax-free sales by using Form PDR-1, Minnesota Motor Fuel Claim for Refund.
Refund claims may be filed anytime within one year of the sale. All PDR-1 refund claims must be filed for the whole month being claimed, and a separate claim is required for each month in which you have a qualifying sale or purchase. Only one claim is allowed per period, so if you have multiple qualifying purchases or sales, they must be combined on a single form. If corrections to the original claim are necessary, an amended claim must be filed.
Retail service stations must charge the special fuel excise tax on all sales of undyed diesel fuel and undyed kerosene, except in the following situations:
- Undyed diesel fuel sold for exclusive use in a truck refrigeration unit (also known as reefer fuel)
- Undyed kerosene sold from a blocked pump as defined by IRS regulations
If the claim is for fuel purchased from a retail service station, you must keep the original sales ticket to verify the claim.
If you have not heard back about your claim after six weeks, you may contact the Minnesota Department of Revenue's Petroleum Tax unit at 651-296-0889.
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Average gas prices in Minnesota
As of 29 July 2019, the average price of Fuel Oil #2 per gallon (3.785 litres) in Minneapolis-St. Paul-Bloomington, MN was not available. However, the AAA Minnesota average for today is $2.955. This price takes into account applicable federal, state, and local taxes. It is worth noting that the average prices are best used to measure the price level in a particular month, not to measure price change over time.
The average price of fuel can vary depending on the location and the type of fuel. For example, the average price of gasoline, leaded regular in Minneapolis-St. Paul-Bloomington, MN, may differ from the price of Fuel Oil #2. Additionally, prices for natural gas and electricity are collected separately and may not be reflected in the average fuel price.
The Minnesota Department of Revenue provides resources and information on petroleum tax and average retail fuel prices. They also offer automatic translation of their website into Spanish, Somali, and Hmong using Google Translate. However, it is important to note that the English language version is considered the most accurate.
It is always a good idea to consult multiple sources and official government websites for the most up-to-date and accurate information on average gas prices in Minnesota. Additionally, specific county-level data may provide a more detailed picture of fuel prices in Minnesota.
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How fuel prices in Minnesota compare to other states
Fuel prices in Minnesota are currently around $3.05 per gallon, which is slightly lower than the national average of $3.17. Prices in Minnesota have decreased by about 4 cents per gallon in the past month and by nearly 50 cents compared to the same time last year.
Minnesota's fuel prices are comparable to some of its neighboring states, such as Vermont, which has an average price of $3.092, and slightly lower than states like New Jersey ($3.063) and Delaware ($3.099). However, it is important to note that fuel prices can vary within a state, and Minnesota may have regions with higher or lower prices than the state average.
When compared to other states across the country, Minnesota's fuel prices are generally more affordable. For example, California has the most expensive fuel prices in the nation at $4.81 per gallon. On the other hand, states like Mississippi have cheaper fuel prices, with an average of $2.68 per gallon.
Fuel prices can fluctuate due to various factors, including tariffs, production levels, and market dynamics. In April 2025, President Trump announced a 10% baseline tariff on all imports to the U.S., excluding oil and gas imports. This announcement caused a decline in fuel prices across most states, including Minnesota, as concerns arose over the impact of tariffs and OPEC+ restoring production faster than expected.
While Minnesota's fuel prices are generally lower than the national average, it is important to consider the varying costs of living and income levels across different states. The affordability of fuel may be influenced by these factors, impacting how Minnesotans perceive and are affected by fuel price changes compared to residents of other states.
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Frequently asked questions
As of July 2019, the average price of Fuel Oil #2 per gallon in Minneapolis-St. Paul-Bloomington, MN was last recorded at $2.955.
Average prices are calculated monthly and are best used to measure the price level in a particular month.
All fuel prices include applicable Federal, State, and local taxes.
