Gas Prices Likely To Increase In Wisconsin Amid Ukraine Invasion

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MILWAUKEE, WI — War in Ukraine mixed with rising demand and limited supply of gasoline would contribute to the rise of gas prices in Wisconsin, the American Automobile Association said on Thursday.

The price of crude oil settled at $92.81 per barrel after the price surged above $100, following Russia’s attack on Ukraine on Thursday, the association said. Sanctions will likely cause oil markets to respond by increasing the price of crude oil as the world’s supply tightens.

The average price for a gallon of gas in the Milwaukee-Waukesha metro area was $3.27 and the average price across the state was $3.33, association data showed.

Find out what’s happening in Milwaukee with free, real-time updates from Patch.

Russia started its military invasion of Ukraine on Thursday and the U.S.’s response to it will likely drive Russia to withhold its oil supply from the world market. President Joe Biden promised sanctions against the country, but said his administration would “every tool at our disposal” to keep rising prices at the pump steady for Americans.

Oil supplies are already cut back after demand from nations trying to move on from pandemic-related economic struggles, the association said.

Find out what’s happening in Milwaukee with free, real-time updates from Patch.

“Russia is one of the leading oil producers globally, behind only the United States and Saudi Arabia,” AAA spokesperson Andrew Gross said. “And if they choose to withhold their oil from the global market, such a move would eventually be reflected in higher gas prices for American drivers.”

Here are gas prices across Wisconsin, according to AAA.

Racine

  • Average gallon of gas: $3.25

Kenosha County

  • Average gallon of gas: $3.30

Milwaukee-Waukesha

  • Average gallon of gas: $3.27

Madison

  • Average gallon of gas: $3.26

Green Bay

  • Average gallon of gas: $3.31

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