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Some gas prices in Wisconsin exceed $5 a gallon, experts say it isn't coming down anytime soon

Posted at 2:45 PM, Jun 03, 2022
and last updated 2022-06-03 15:45:29-04

MILWAUKEE — Some gas prices in Wisconsin have now exceeded $5 a gallon and experts are saying prices may not come down anytime soon.

Prices in Wisconsin are changing by the minute with the volatile market. One expert doesn't expect things to change.

"The wholesale price of gasoline is up 61 cents a gallon for the Great Lakes region since last Wednesday," Patrick Dehaan with Gas Buddy said.

You see it every time you fill up your car or pass by the local gas station... prices going up, up, up. On Thursday, TMJ4 News found gas at $5 a gallon or more at stations across the Milwaukee Metro.

"If you're wondering why stations are jumping constantly, it's because the cost that they are paying has skyrocketed from where it was last week," Dehaan said.

Dehaan is so busy analyzing prices and sharing his findings, TMJ4 News could barely get on his schedule Thursday.

Taking a look at Gas Buddy's averages across the country, Wisconsin is below the national average. The national average is $4.72 and the state average is $4.64 a gallon. A gallon averages $4.85 in Milwaukee County and is around the same in surrounding counties.

The group of Petroleum Exporting Counties (OPEC) said it would add nearly 700,000 additional barrels of oil a day on Thursday.

"Sounds terrific, it would be terrific. But let's see what they actually do. Because I'm a little bit skeptical they are not going to do it or have the capacity to do it."

Dehaan said ultimately if supplies remain low and Americans continue to drive as they have through these rising prices, the price per gallon will remain high.