WI Gas Prices Below National Average. But For How Long?

Skip to main content

WISCONSIN — Gas prices are surging in Wisconsin as the national average hovers just below $4 per gallon for the first time in more than a decade — and analysts expect it to hit $4 soon.

In Milwaukee County, the average price for a gallon of regular gas was $3.48 on Friday, according to AAA. That’s lower than the national average of $3.84.

Russia’s violent invasion of Ukraine has roiled the oil market, causing the global price of oil to spike and leading to higher pump prices in the United States, according to AAA. Gas prices have soared 18 cents since Wednesday and 29 cents since the invasion of Ukraine eight days ago, according to a CNN report.

Interested in local real estate?Subscribe to Patch’s new newsletter to be the first to know about open houses, new listings and more.

The increases mark the largest price hikes since Hurricane Katrina hit the U.S. Gulf Coast in 2005, devastating the nation’s oil and gas industry, according to CNN.

With prices rising at such a rapid pace, a national average of $4 a gallon will probably be reached soon, analysts say.

Interested in local real estate?Subscribe to Patch’s new newsletter to be the first to know about open houses, new listings and more.

“This is not the end of it. We’re already up another 14 cents on wholesale gas prices this morning,” Tom Kloza, a global petroleum analyst, told CNN on Friday. “It’s absolutely out of control.”

The price of a gallon of gas varies dramatically based on where you live. In California, the average price for a gallon of gas hit a staggering $5.07 on Friday, according to AAA, making it the first state ever to have an average price above $5 a gallon.

Meanwhile, if you live in Arkansas, a gallon of gas is only $3.45.

Overall, gas prices are up more than $1 from this time last year, according to GasBuddy.com.

The average price for a gallon of regular gas in Wisconsin is $3.58, according to GasBuddy. That’s lower than AAA’s average price.

Milwaukee residents should prepare for gas prices reaching $4, Jim Ritterbusch, president of oil trading firm Ritterbusch & Associates told The Milwaukee Journal Sentinel.

For comparison, the average price for a gallon of gasoline in the Milwaukee-Waukesha metro was $3.27 on Feb. 25, according to AAA.

Currently, Wisconsin has among the least expensive gas prices in the nation, according to GasBuddy. Friday, the highest recorded prices were in Saint Croix, Barron and Price counties.

The rules of replying:

  • Be respectful. This is a space for friendly local discussions. No racist, discriminatory, vulgar or threatening language will be tolerated.
  • Be transparent. Use your real name, and back up your claims.
  • Keep it local and relevant. Make sure your replies stay on topic.
  • Review the Patch Community Guidelines.

Read More…

Related Posts

milwaukee-celebrates-12th-annual-414-day

Milwaukee Celebrates 12th Annual 414 Day

MILWAUKEE, WI- Whether it’s beer gardens, Brewers, Bucks, brats, bags, or old fashioned cocktails, everything you love about Milwaukee will be celebrated on Thursday, April 14 which is 414 Milwaukee Day. The big day got started in 2010 by a few friends as a joke but it ended up growing...

brousseau’s-homer-helps-brewers-top-cubs

Brousseau’s Homer Helps Brewers Top Cubs

Milwaukee Brewers CHICAGO, WI (WSAU) –Mike Brosseau had a pinch-hit solo homer that broke a 4-4 tie in the 7th inning and helped Milwaukee salvage one game of the three game series at Wrigley Field 5-4 on Sunday.Rowdy Tellez added a two homer and Willy Adames a solo shot. Adames...