Gas prices continue to fall in Madison

Gas pump
Gas pump(Alex Fulton)
Published: Aug. 1, 2022 at 9:28 PM CDT
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MADISON, Wis. (WMTV) - The national average price for gas is down for the seventh straight week as Madison gas prices also saw another drop.

In its weekly survey, GasBuddy reported that the average price of gas in Madison was $3.77 per gallon. That’s almost nine cents lower than it was last week and almost 75 cents lower per gallon than a month ago.

GasBuddy Head of Petroleum Analysis Patrick De Haan said that if oil prices hold steady or fall, consumers will see even lower prices.

“The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern U.S. could push prices up slightly until inventories rise, or imports do,” De Haan said. “For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result.”

GasBuddy pinned the lowest gas price in Madison at $3.66 per gallon, while the most expensive was marked at $4.09 per gallon.

Across Wisconsin, Milwaukee reports an average price of $3.94 per gallon and Appleton came in at $3.74 per gallon. In Rockford, Ill., GasBuddy put its average price for a gallon of gas at $4.40.

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