The Price of Gasoline Continues Its Decline

Just like the mercury in the thermometer, the price of gasoline has fallen this past week.  According to GasBuddy’s daily survey of 615 gas outlets in Milwaukee, the average price of a gallon of gasoline is $1.78.  That is nearly 10 cents lower than it was at this time last week.  The national average is $1.90 a gallon, a 6.5 cent decline over the last seven days.

"The continued and unprecedented plunge in the price of crude oil has continued, allowing gasoline prices in virtually the entire U.S. to continue plummeting," said Patrick DeHaan, GasBuddy senior petroleum analyst.  DeHaan expects the trend to continue with the national price dripping as low as $1.70 per gallon.

According to GasBuddy, the current price is nearly 11 cents lower than it was one month ago and more than 12 cents lower than one year ago at this same date.

Declines in the price of gasoline have been experienced across southern Wisconsin and northern Illinois.  In Madison, the average price is $1.76, down over 7 cents from last week.  In Chicago the average price is $2.00 a gallon, down more than 11 cents from law week and gas in Rockford is $1.81 per gallon, more than 5 cents less than one week ago.