June 02, 2015|
AAA Fuel Gauge: Wisconsin Pump Prices Likely Near a Seasonal Peak
MADISON, WI. (June 2, 2015) – After a steady increase since mid-April, it is possible that pump prices in Wisconsin may have reached a seasonal peak. Gas prices surged this spring due to a rally in crude oil prices from multi-year lows, seasonal refinery maintenance, the changeover to summer-blend gasoline and domestic refinery issues that have impacted regional production. Today’s statewide average of $2.72 per gallon is the same as it was one week ago and 25 cents more per gallon than one month ago.
Milwaukee area drivers continue to face higher prices as a result of refinery issues in the Chicago region. The ExxonMobil facility in Joliet, Ill. and Citgo’s refinery in Lemont, Ill., are both running at reduced rates due to maintenance issues. The average price in the Milwaukee area is currently $2.89 per gallon, a full 20 cents more than the next highest metro average in the state, Eau Claire ($2.69). Other averages around the state are: $2.66 in Green Bay; $2.64 in Janesville-Beloit; $2.65 in La Crosse; and $2.60 in Madison.
While pump prices have been rising, the state average price for regular unleaded gasoline remains significantly below this same date last year (-96 cents) and consumers are on target to pay the lowest prices at the pump during the summer driving season since 2009. Relatively low prices at the pump, combined with a recovering economy, have contributed to drivers traveling more during the first quarter of the year than any other year on record.
“Prices appear to have leveled off this week, and it’s possible that they could drop once refineries return to full capacity and the crude market stabilizes,” said Nick Jarmusz, director of public affairs for AAA Wisconsin. “But there are a number of unpredictable factors that could send prices higher, such as increased fighting in the Middle East, new refinery issues or strong Atlantic hurricanes.”
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, travel, insurance and financial services offerings to approximately 9 million members across 11 states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with nearly 55 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.
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