Gas prices tick up in Madison, snapping 8 straight weeks of drops

Gas prices in Charlotte have declined for the eighth straight week.
Gas prices in Charlotte have declined for the eighth straight week.(Source: MGN)
Published: Aug. 15, 2022 at 1:00 PM CDT
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MADISON, Wis. (WMTV) - Madison’s eight-week streak of falling fueling prices ended Monday with the release of the latest GasBuddy weekly report. On the bright side, while each week during that run saw an average of 17 cents shaved off each gallon of gas, this week’s up arrow came alongside a change of less than a penny.

The slight tick higher leaves drivers in the Wisconsin capital paying $3.58 per gallon, on average, GasBuddy’s survey reported. At least one station was charging as little as $3.38 per gallon, the company found, while none of them have yet broken back past the four-dollar mark.

While Madison prices leveled off, the U.S. average fell nearly a dime to $3.92 per gallon, marking the ninth straight week of declines nationwide.

However, that streak is expected to snap soon as well. GasBuddy’s head of petroleum analysis Patrick de Haan pointed out that wholesale gas prices are already up 40 cents and crude oil prices have started rising again as well. He predicted the national average would be higher next week, noting that “the recent better than expected jobs report last week likely means less demand destruction than anticipated.

Across Wisconsin, GasBuddy found mixed results with Milwaukee joining Madison in the slightly higher column and Appleton squeezing in another week of declines. The former saw prices edge up 1.2 cents to $3.77 per gallon, while the latter enjoyed an 8.4 cent drop to $3.51 per gallon.

Over the state line, in Rockford, drivers are still shelling out more than four dollars per gallon ($4.05) despite seeing prices plummet more than 18 cents in the past week.

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