NewsLocal News

Actions

Experts predict gas prices will continue to rise in Wisconsin and across the country

Screen Shot 2022-02-15 at 5.37.30 PM.png
Posted at 5:50 PM, Feb 15, 2022
and last updated 2022-02-16 11:08:23-05

The amount people pay at the pump is increasing across the country and experts predict we won't get a break from these high prices any time soon.

As gas prices rise, many people are on the hunt for the best cost to fill up their vehicles.

"I work here and I work in Appleton. I just go for the lower price," said Maria Santos, Menasha. “When you get paid, you don’t get paid too much to put up with the price of the gasoline. So it’s been a little bit tough to drive the long distance to work.”

GasBuddy.com lists the average cost of gas in Wisconsin at $3.28 a gallon. That's up 4.5 cents from last week.

"A lot of the surge in, let's call it six weeks, is tied to what's going on with Russia," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Russia produces 10% of the global oil supply. The possibilities are if Russia does invade Ukraine, the U.S. could issue sanctions. Russia could respond by limiting oil exports, causing oil prices to skyrocket."

De Haan said there are other geopolitical factors driving up the price of gas. He said tensions in Lybia, Kazakhstan, and the United Arab Emirates could have a similar impact as what we're seeing with Russia and Ukraine.

In the midwest, De Haan said they're already seeing winter gasoline being switched out with summer gasoline. He said new "product" means higher prices at the same time demand is expected to go up with spring travel.

"Those three factors combined with the geopolitical tensions could cause gas prices to go up by 25 to as much as 75 cents between now and Memorial Day," De Haan said. "So it could get even uglier."

People can still shop around for the best prices at the pump. Here's a look at the cheapest gas prices in some Northeast Wisconsin cities, according to GasBuddy.com: