Gas Prices Dip Below $2 a Gallon in Madison Area

Good news at the pump.

Gas is starting to dip below $2 a gallon in our area.

Oil prices hit a 20 month low today at a little more than $50 a gallon.

Back in August, when gas prices hit an all-time high at $3.18 a gallon, oil was trading at $78 a barrel.

AAA says it's all a matter of supply and demand.

Pam Moen of AAA Wisconsin says, "This biggest is that our nation has seen a milder than usual winter, so that has lower demand for fuel up until this point."

She says the recent stretch of cold weather shouldn't impact prices too much, since winter is half way over and oil companies have a good supply.

Right now the national average for a gallon of regular is $2.20.

Here in Madison it's $2.13.


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