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Wisconsin Gas Prices On the Rise

Pixabay.com

Gas prices in Wisconsin have increased over 16 cents per gallon since this time last month, according to GasBuddy.

Wisconsin gas prices have risen 5.3 cents per gallon in the past week, averaging $2.33/g Tuesday.

The national average price of gasoline has risen 3.7 cents per gallon in the last week, averaging $2.45/g Tuesday. The national average is up 13.2 cents per gallon from a month ago and stands 1.6 cents per gallon higher than a year ago.

Prices are increasing because production decreased.

Patrick DeHaan, head of petroleum analysis at GasBuddy explained oil producers saw a decrease in demand early in this pandemic and changed output accordingly.

"Now, as demand has rebounded, The Organization of Petroleum Exporting Countries (POEC) is slowly increasing the amount of oil production," DeHaan said. "But, the concerns that are pushing oil so much higher are that OPEC isn't pumping enough oil to meet today's demands."

 

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