The average price of gas in the U.S. reached a new record high yesterday, at just over $4 per gallon.
In Wisconsin, prices increased by nearly 60 cents in the last week alone, according to GasBuddy, and officials say it’s not likely the price hikes will slow down anytime soon.
The record average price for gas in Wisconsin was $4.11 a gallon in 2011, but experts with AAA say that record may not be standing in a few weeks.
"It's entirely possible that we will break that record at some point within the next few weeks," says Nick Jarmusz, a spokesperson for AAA.
He says the worst is yet to come, and prices will only continue to worsen as the weather gets warmer and demand for gas increases.
"We probably won't see prices come dramatically down until we see some shift in the supply demand equation, which at this point we probably won't see until we get to the other side of road trip season," he says.
But according to Jarmusz, supply plays a key role in the equation too.
"A lot of variables are still on the supply side, like how are things going to continue to play out with Russia and Ukraine, what sort of alternatives or replacements for Russian oil can be found on the global market," he says.
Jarmusz urged consumers not to panic, which could artificially inflate the price even higher.
Experts recommend increasing fuel efficiency by making sure your tires are properly filled, not letting your car idle for too long, and avoiding repeated braking and accelerating.
