GREEN BAY, WI (WTAQ) – Gas prices continue to sit above three dollars per gallon across most of the area. That’s not likely to change very much, at least for now.
Oil prices remain among the highest they’ve been in seven years at around $80 per barrel. GasBuddy Senior Petroleum Analyst Patrick DeHaan says that’s pushing prices up.
“Demand for gasoline will fall but the price is probably not likely to,” DeHaan told WTAQ News. “Last week, OPEC met to discuss further increasing oil production but took no action, declining to increase production. That’s why we’re paying more at the pump; Demand is up and supply is not.”
However, OPEC is slowly increasing production. That comes as part of a July agreement to boost production by 400,000 barrels per day, every month until 2022. At that point, production will be back to pre-COVID levels. U.S. oil producers are only slowly increasing output as well, after losing a collective $50 billion in 2020.
Right now, Wisconsin and Green Bay averages have risen to around $3.10 per gallon, with prices hitting near $3.40 up north in places like Eagle River. But Fond du Lac is home to some of the lowest prices, reaching $2.83 on Wednesday.
Differences in price, even for some communities that are in close vicinity to each other, are driven by a number of factors.
“Gasoline can be coming from different places, stations could have bought it on a different date, but it looks like there’s a little bit more competition in Fond du Lac than anywhere else. There’s certainly some heavy competition down there right now, whereas other parts of the state see most stations anywhere from $3.09 to $3.29 a gallon,” DeHaan said. “Price differences between what we’re seeing in Fond du Lac and the rest of the state highlights that motorists should shop around for fuel. Of course, the free GasBuddy app is a great way to do that. But price variances will likely continue, if not widen in the days ahead.”
You can shop around for the cheapest prices in your community without even pulling out of the garage, just click right here.
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