Madison gas prices jump 10¢ in past week
MADISON, Wis. (WMTV) - The price of gas jumps a full dime in just a week and are up more than twice that in the past month.
That’s according to the latest weekly report from GasBuddy, which found a gallon of gas costs $3.13/gallon in Madison. On the bright side, the cheapest price statewide - $2.93 – was found in the Wisconsin capital. While the survey did find sub-$3 gas, it also reported some stations charging as much as $3.39 per gallon.
The national average did not jump as much as much; however, at $3.42/gallon, it is still higher than the most expensive gas in Madison. And, don’t expect it to drop significantly anytime soon, GasBuddy’s head of petroleum analysis Patrick De Haan warned. In fact, he expects prices to keep pushing up and says they could reach record territory over the summer.
“With the national average at its highest level since 2014, the news is grim: motorists should expect even more price increases, with the larger jumps coming later this spring as a confluence of seasonal factors and the potential flare up in geopolitical tensions,” he cautioned.
De Haan noted oil prices experienced their sharpest gain in months over the course of the past week, fueled by tensions between Russia and Ukraine.
Gas prices across Wisconsin did not differ too much from what Madison drivers were shelling out. In Appleton, they were paying $3.11/gallon, while Milwaukee motorists dug slightly deeper for their $3.15/gallon gas. Down in Illinois, though, anyone stopping in Rockford could expect to drop nearly $3.50/gallon.
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