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Another surge sends Madison gas prices over $4/gallon

(WHSV)
Published: May. 9, 2022 at 8:29 AM CDT
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MADISON, Wis. (WMTV) - Another surge in cases gas prices means Madison drivers are once again shelling out more than four dollars per gallon, on average, the latest GasBuddy statistics find.

Over the past two weeks, prices have climbed a rate of two cents per day, according to the survey, leaving them more than a quarter higher than they were at the beginning of that stretch. With the latest nearly 18 cent jump since last month, they now sit at $4.05/gallon, approximately 35 cents higher than this time last month.

GasBuddy’s head of petroleum analysis Patrick de Haan blamed this wave of rising gas prices on the European Union, indicating it may sanction Russian oil as well as the depletion of the United States’ petroleum reserves. He also noted that while gas is getting more and more expensive, it continues to hit diesel drivers even harder.

“Not only are diesel prices at a record high, they are at their largest differential to gasoline on record, surpassing the 98-cent difference in 2008 and currently standing at a $1.20 per gallon premium,” he said, pointing out that rises in diesel prices deliver a “double whammy” because much of those increases get passed along to consumers when they go shopping.

An hour south of the Wisconsin capital, drivers in Rockford have to dig even deeper. GasBuddy reports prices in the Illinois city are approaching four-and-a-half dollars per gallon.

In Milwaukee, gas prices are averaging nearly twenty cents more than Madison, at $4.23/gallon. Meanwhile, up in Appleton, prices have not hit four dollars, but, at $3.99 per gallon, they could not get any closer.

Across Wisconsin on Sunday, GasBuddy researchers found a swing of more than a dollar per gallon in prices at individual stations, with at least one charging as much as $4.74 per gallon. On the other hand, they also found a station charging $3.70 per gallon. While at least one station in Madison typically hits the low end of the statewide range, prices in they did not quite dip that low, with the lowest price being $3.78 per gallon and peaking at $4.29.

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