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Gas prices hit new lows, experts say downward trend could continue

AAA says the the statewide average in Wisconsin is lower now than it was a year ago
Gas
Posted at 11:21 AM, Dec 06, 2022
and last updated 2022-12-06 13:32:39-05

MILWAUKEE — After months of record-high gas prices, there’s finally some relief at the pump.

AAA says that just in the last month, we’ve seen almost a full dollar drop in the national average price for a gallon of regular unleaded and here in Wisconsin, the statewide average is lower now than it was a year ago.

View gas prices across Wisconsin here, according to AAA

“That has certainly not been the case throughout most of the year, and so that's a welcome sign and a very welcome milestone for us to cross,” said Nick Jarmusz, AAA Director of Public Affairs.

Jarmusz says this is due to a few different reasons, including falling demand and steady progress in reaching pre-pandemic levels when it comes to oil and refinery production.

Still, Jarmusz says, there is room for prices to drop even further.

“We may not necessarily see another dollar drop in the next month, you know, in continuing that same angle of decline, but we will probably continue to see prices that are tracking below the year to date,” said Jarmusz. “And I think generally speaking prices in 2023 are more likely to look like they did in 2021 than in 2022.”

With gas prices finally hitting some of the lowest numbers we’ve seen in quite a while, folks like Barbara Kelly say that it couldn’t have come at a better time.

“I feel real good about that because, for one thing, this car eats gas. (laughs) So, that means it’s eating my wallet too. I thank God for the prices going down, I hope they go down a little more too,” said Kelly.

If you’re hoping to extend your tank as much as possible, there are some ways you can do that.

AAA says as winter approaches, keep an eye on your tire pressure and drive at or below the speed limit, especially when you’re on the highway.

They say those little changes can make a big difference.

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