Rise in Oil Price Blamed for Gas Price Increase

The rise in gasoline prices is being blamed on the jump in the crude oil price per barrel to almost $100, with stations in Wisconsin selling gas today at 8 cents per gallon higher compared to last week.

However the rise is not expected to go on for the long term, said the American Automobile Association.

Demand is low and refinery production is high, according to Roy Hinz, the spokesman of AAA in Wisconsin. He added that the increase in the gasoline price today is not expected to move to the same high levels that they were in the past year.

In September of last year, the price of gasoline almost reached $4 per gallon. However, they started to drop in the latter parts of 2012.

Wisconsin’s average gasoline price today for each gallon of regular is $3.25, said AAA. That rate is higher by 2.6 cents versus yesterday but lower by 11 cents versus the same day last year.

Local price tracking statistics show that local drivers are spending around $3.12 to $3.39 per gallon.

In Wisconsin’s six metropolitan areas that were polled for AAA’s daily fuel gauge report, the lowest average price for regular gas is $3.129 per gallon at Lacrosse, while the highest average price is $3.266 per gallon at Milwaukee.

The average of Madison is higher by 3.2 cents versus the previous day at $3.236 per gallon. Nationally, the current gasoline price is $3.316 per gallon, with Hawaii having the most expensive rate at $4.085 per gallon and Wyoming having the cheapest rate at $2.821 per gallon.