Gas prices in Madison this week PHOTO: WRN
Wisconsin retail gasoline prices rose above the $4.00 level this week, and they’re quickly approaching record highs. Pam Moen of AAA Wisconsin said prices the statewide average was at $4.08 as of Tuesday. “We’re getting pretty close to our all time state record high,” said Moen. That was $4.11 in July 2008. “Unfortunately if prices keep moving in the next few days like they have the last couple of days, we could see a new record high here set before the week is out.”
Moen said the spike in gas prices is mainly due worries from commodities traders that the unrest in the Middle East could restrict oil supplies. “When this whole climb in gas prices started, crude oil was trading in the $85 a barrel range, and Friday closed at its highest level since 2008, at almost $114 a barrel. That is really what’s driving the increases at the pump.” She said the switch from winter to summer blends of gasoline is also adding about a dime to the price at the pump.
Rick Schuh, WHBY