GREEN BAY, WI (WTAQ) – Wisconsin drivers could be in for a rude awakening next time they fuel up.
After multiple states saw notable increases in the price of gasoline this week, Gasbuddy.com Senior Petroleum Analyst Patrick DeHaan says the Badger State can likely expect one of its own in the coming days.
DeHaan says the price hike would likely be the first in a series of jumps between now and Memorial Day.
He says that’s due to a variety of factors, including those that typically lead to an increase at this time of year such as a higher demand as temperatures warm and the beginning of a process where refineries switch over to a more expensive summer gas blend.
DeHaan says there is an additional factor that is unique to this year. He notes a gallon of gasoline currently costs $0.53 more than at this time last year. That’s due to a November decision to reduce oil production by 50% in an effort to raise oil prices. Unless something changes, DeHaan expects that will continue to impact gas prices in the coming months.
While DeHaan says gas could near $3.00 per gallon in Wisconsin by late May, he expects the price will drop a bit during the summer months.
DeHaan believes the only way prices will increase beyond Memorial Day is if there is an unexpected refinery outage.
On Thursday, a gallon of gas in Green Bay averaged $2.25, with the lowest price coming in at $2.18.
In comparison, the average price in Wisconsin was listed at $2.26 while the national average sat at $2.32.
