© 2024 WXPR
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Northwoods Gas Prices 'Stubbornly' High Says Expert


While gas prices are falling in most parts of the country, Northwoods stations are slower to react.

Senior Petroleum Analyst Patrick DeHaan of the gas-price website gasbuddy.com says statewide gas prices have recently fallen 8 cents per gallon.

The statewide average is $2.77 a gallon for unleaded regular.

He checked his board and had this assessment...

"....Prices in Rhinelander remain stubbornly high at $2.87, $2.88, some $2.89. This is what you see in areas where there is less competition because of fewer stations. Prices tend to take longer to move downward. No one is really eager to cut their price...."

DeHaan says prices in the short term are likely to keep falling...

"...cheapest price in the state right now is Kenosha where some stations are charging $2.49 a gallon. There's a lot of downward movement potential in Rhinelander. If gas stations are listening, they can take this as a message to start lowering their prices. It certainly would be welcome by motorists..."

DeHaan says over the next several days crude oil prices will also be sliding. He says the price of a barrel of crude oil has fallen to $67 dollars, down about $10 dollars a barrel from just a few weeks ago.

He says the world's economy is slowing a bit which usually means a lower demand for crude oil, but he says sanctions placed on Iran by the U.S. come back into effect on November 4 which could cause oil prices to drop just slightly.

Up North Updates
* indicates required
Related Content