MADISON, WI (WTAQ) – Wisconsin gas prices are almost 34 cents higher than the $1.95 we were paying a month ago.
Analysts say the increases are far from over — and fuel prices might not go down again until May.
Patrick DeHaan of GasBuddy.com said gasoline wholesalers had increases of 10 to 27 cents a gallon Wednesday due to a major price rally. He said he expects “aggressive” retail price hikes in the weeks ahead.
Also, DeHaan says oil refineries in 5 states have operational issues of some type, all of which are driving down supplies. There’s also the steelworkers’ strike at 12 U.S. refineries that began at the start of February — recent increases in crude oil prices — plus the normal gas price hikes we see each year around this time, as suppliers switch over to summer grades of gasoline.
Chicago analyst Jim Ritterbusch tells the Milwaukee Journal Sentinel it might take 6 to 8 weeks for oil supplies to exceed consumer demands, to the point in which pump prices are driving down.
Thursday, the Wisconsin AAA reports a statewide average of $2.29 a gallon for regular unleaded. That’s up almost two cents from a week ago, and 34 cents more than a month ago.
Still, it’s a lot cheaper than the $3.45 we were paying at this time last year.
(Story courtesy of Wheeler News Service)
