The days of insanely cheap gas prices may be over.
Tuesday, the average price for regular-unleaded in Wisconsin was $1.59 per gallon, according to GasBuddy.com, up from $1.23 only a week ago and a big jump from the lowest price, but not the average — 89 cents in mid-April.
In the Milwaukee area, the average price for regular unleaded now stands at $1.65, although a few stations are still priced at $1.19.
“It’s becoming a bit clearer that those 99-cent per gallon gas prices from the COVID-19 pandemic are solidly behind us as gasoline demand rebounds across the country as cities and states slowly reopen,” said Patrick DeHaan, head of petroleum analysis at GasBuddy, a free online service which tracks fuel prices by state, city and region.
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“While (crude) oil may continue to struggle, a disconnect between low oil prices and rising gasoline prices has emerged at the hands of refineries that have slowed production over the past month to avoid flooding the market with unwanted gasoline,” DeHaan said.
“As demand stages a rebound, it remains to be seen how quickly refiners will raise production to meet the locations that have or will begin to re-open in the days and weeks ahead,” he added.
Across the country, ultra-low gas prices are quickly disappearing, according to GasBuddy.
“The Great Lakes states, including Wisconsin, Michigan, Indiana, Ohio and Illinois all saw either nearly double digit per gallon increases or very close. Wisconsin’s lowest-in-the-land gas price average has vaporized, and the state average is now the seventh cheapest after holding the number one spot for weeks on end,” GasBuddy said.
For the first time in 10 weeks, the national average gas price has moved higher, rising 1.5 cents over the last week to $1.75 according to GasBuddy data compiled from more than 11 million individual price reports covering about 150,000 locations. The average price of diesel, meanwhile, fell 2.5 cents to $2.43.
Nationwide, the most common price for regular unleaded is $1.59, up 10 cents from a week ago. The average cost at the priciest 10% of stations stands at $2.64 per gallon.
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