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Experts say gas prices could go up to $4: 'It's certainly possible'

Wisconsin's average gas price is $3.41/gallon
Gas Prices Colorado
Posted at 5:07 PM, Mar 02, 2022
and last updated 2022-03-02 18:59:46-05

MILWAUKEE — You may have noticed you're paying more at the gas pump than normal. Experts say that's caused by a direct impact of the war in Ukraine.

The question on many of our minds is if gas prices will go up to $4/gallon.

"It's certainly possible," said Nick Jarmusz, the director of public affairs for AAA.

We haven't seen $4 a gallon for gas since 2012. AAA experts say these prices will fluctuate due to Russia's invasion of Ukraine.

"That's causing the market price of crude oil to jump and that is translating into higher prices at the pump for drivers," Jarmusz said.

Thursday, after the Russian invasion began, the price of crude oil topped $100 a barrel for the first time since 2014.

We drove around southeast Wisconsin Wednesday afternoon and saw a range of prices. Whitefish Bay: $3.59/gallon. On the east side of Milwaukee: $3.49/gallon. And the cheapest we found was in Brown Deer at $3.19/gallon.

Jarmusz said the low gas price in Brown Deer could change soon. He said gas stations will typically reset their prices or change the prices when they restock on gas.

We ran into Marguerite in Brown Deer as she was filling up her tank. We asked her what she thought about how cheap the gas prices was.

"I came to this gas station in particular because of the price. I figured I'd come and fill up before the price goes up," she said.

Marguerite added that she made the five-mile drive for cheaper gas, but the price at the pump is impacted her life even more.

"I'm social security and panic runs through my mind," she said. "It's terrible that people have to drive around to find the lowest price."

Jack Weatherly felt it too. "Every week it just seems like it's going up a little bit more each time."

He also made the drive for cheaper gas.

"I live downtown and usually actually come to this one specifically because the prices are a bit cheaper," Weatherly said. "Even here (Whitefish Bay gas station) the prices are going through the roof."

According to AAA, the national average for gas is $3.65. In Wisconsin, we're sitting at $3.41 and we will likely see that number continue to go up.

Jarmusz said it's not a matter of when gas prices will go down, but a question of how high will it go.

AAA says the best way to save money on gas is to slow down. Jarmusz said your car is most fuel-efficient when you aren’t speeding.

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