MILWAUKEE — Gas prices in the Milwaukee area are on the rise, a trend analysts blame on the cyberattack that shut down the Colonial Pipeline late last week.
Gas price watcher, GasBuddy, said in a release that Milwaukee gas prices have risen 6.4 cents per gallon in the past week, averaging $2.84 a gallon on Monday.
Gas prices in Milwaukee are 13.2 cents per gallon higher than a month ago, GasBuddy found, and stand $1.07 a gallon higher than a year ago. GasBuddy's analysis is based on a review of 615 gas stations in Milwaukee.
The trend in prices is occurring across the nation. The national average price of gas has risen 4.5 cents per gallon in the last week, averaging $2.95 a gallon on Monday, according to GasBuddy. The national average is up 10.0 cents per gallon from a month ago and stands $1.12 a gallon higher than a year ago.
Patrick De Haan, head of petroleum analysis for GasBuddy, pinpointed the rising prices on the cyberattack at Colonial Pipeline. Last Friday, the company suffered a malware attack, forcing them to shut down their pipelines from the Gulf to the eastern seaboard.
"The situation is growing more intense each day that passes without the pipeline restarting, and motorists are advised to show extreme restraint or exacerbate and prolong the challenges," said De Haan.
"I'm hopeful the situation will quickly improve as multiple levels of government are involved, this may become a nightmare should it continue just ahead of the start of the summer driving season," according to De Haan.
Milwaukee's prices can be compared to those in nearby cities, according to GasBuddy:
- Rockford: $3.11/g, up 1.9 cents per gallon from last week's $3.09/g.
- Madison: $2.77/g, up 3.6 cents per gallon from last week's $2.73/g.
- Chicago: $3.31/g, up 1.1 cents per gallon from last week's $3.29/g.
