Gas prices continue to drop into the holiday season

Drivers were excited to see gas prices fall below $3 per gallon Friday.
Drivers were excited to see gas prices fall below $3 per gallon Friday.
Published: Dec. 2, 2022 at 9:36 PM CST
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MADISON, Wis. (WMTV) - The cost of filling up your tank is going down and might continue until the end of the year. Drivers in Madison may have been stunned to see prices drop below $3 per gallon in some parts of the city.

There are some stations in Madison offering a whopping $2.99 per gallon Friday. Mother of six Hannah Karnga says she hopes prices continue to drop.

“I was excited, so happy because I know how much money I spend on gas every week,” Karnga said. “I have to fill my car after every two days so I have been spending a lot of money on gas.”

Kwik Trip prices drop
Kwik Trip prices drop(WMTV/Camberyn Kelley)

American Automobile Association (AAA) says the average price for gas in the Badger state is $3.07. Meanwhile, Dane County is averaging around $3.18.

The national average for a gallon of gas is $3.45 according to AAA, which is down 12 cents from last week and 29 cents in the past month.

Analysts say fears about COVID-19 restrictions and lockdown protests in China have caused a dent in demand, leading to lower gas prices in the U.S.

The highest price Wisconsin drivers paid was roughly $4.90 in mid-June. With the fall season wrapping up, prices are in the $2 range- almost $3 but not quite.

Some analysts predict gas prices will keep falling as we head toward the end-of-the-year holiday season.

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