MILWAUKEE — If you’ve filled up your gas tank in Milwaukee recently, you might’ve noticed a bit of relief at the pump. According to GasBuddy, average gas prices in the city dropped by 7 cents this week, bringing the average to $2.94 per gallon. That’s nearly 40 cents lower than this time last year and about 5 cents less than just a month ago.
But don’t get too comfortable—experts warn the dip could be short-lived.
“Drivers across Milwaukee are feeling some relief at the gas pump this week — but experts say that dip in price may be short-lived,” said Patrick De Haan, Head of Petroleum Analysis at GasBuddy. “Tensions overseas are sending oil markets into uncertain territory, and it could spell price hikes in the weeks to come.”
Nationally, the average gas price is starting to inch upward, now sitting at $3.08 per gallon after a small increase of just over a penny. Diesel prices are also on the rise, up 4 cents to $3.49 per gallon.
Watch: Gas prices dip in Milwaukee, but experts warn relief may be temporary
Still, for Milwaukee drivers like Mike and Tim, the recent dip doesn’t offer much hope.
“We can’t do anything but pay it, unless you want to walk or ride the bus,” said Mike, who was filling up his tank Thursday afternoon.
“The only thing we can do is just do what we have to do,” added Tim. “We’re trying to get around, trying to survive, so it is what it is.”
GasBuddy analysts say the ongoing conflict between Israel and Iran has sent oil prices climbing to multi-month highs. That’s sparked concern that gas prices could rebound by 10 to 20 cents in the coming days, with diesel expected to jump even more.
How to Stay Prepared
De Haan encourages drivers to keep an eye on the global headlines and their local gas stations.
“As long as tensions in the Middle East continue to escalate, the risk of further impacts on oil prices remains high,” he said. “For now, I expect modest price increases—but the situation has the potential to worsen at any moment.”
Milwaukee drivers can enjoy the lower prices for now—but experts say all signs point to a possible rebound.
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