When gas prices are cheapest
Tired of paying so much for gas? Discover how geopolitical events, seasonal demand and crude oil prices affect your price at the pump.
After a summer of rising gasoline prices across the Midwest, fuel prices in Wisconsin are finally falling – just in time for the start of Labor Day weekend travel.
In fact, current gas prices nationwide are at their lowest since March, USA Today reports. For most of the summer, the average price for a gallon of gas was about $3.50. As of Monday, the national average was $3.35, according to AAA.
In Wisconsin, the average price is even lower: A gallon of gas costs $3.23 statewide, down from $3.33 a week ago and $3.52 a month ago. Prices are rounded to the nearest hundredth of a cent.
Find out why gas prices have dropped and which cities in Wisconsin have the cheapest rates.
Why are gas prices low?
According to USA Today, gasoline costs have fallen over the past month due to the global oil price decline.
West Texas Intermediate, the US benchmark for measuring oil prices, has fallen by more than 10% since the beginning of July. Oil demand has also fallen in China, one of the world’s largest oil consumers, leading to a global drop in prices.
Gasoline prices have been particularly high in the Midwest this summer after a storm-related outage at a fuel refinery in Illinois last month drove up prices in neighboring states. In response, the Environmental Protection Agency issued a waiver earlier this month allowing Wisconsin and three other states to sell certain gasoline blends normally banned under the Clean Air Act.
The exemption, which also affected Illinois, Michigan and Indiana, was in effect until August 20. In addition to global oil trends, the exemption may also have contributed to lower gasoline prices at the end of the summer.
Which cities in Wisconsin have the lowest gas prices?
Gasoline prices have fallen in most Wisconsin metropolitan areas. Sheboygan is one of the few where prices have risen in the last week. In some areas, including Milwaukee, prices for a gallon of gas have fallen by more than 10 cents in the last week.
Regular gasoline prices in Wisconsin cities as of August 26, according to AAA:
- Appleton: $3.19, up from $3.23 a week ago
- Eau Claire: $3.04, up from $3.06 a week ago
- Fond Du Lac: $3.17, up from $3.27 a week ago
- Green Bay: $3.21, up from $3.28 a week ago
- Kenosha County: $3.34, up from $3.43 a week ago
- La Crosse: $2.98, up from $3.19 a week ago
- Madison: $3.32, up from $3.38 a week ago
- Milwaukee-Waukesha: $3.25, up from $3.39 a week ago
- Oshkosh: $3.27, up from $3.32 a week ago
- Racine: $3.33, up from $3.49 a week ago
- Wasau: $3.17, up from $3.27 a week ago
- Sheboygan: $3.26, up from $3.29 a week ago
