Gas Prices Decline in October
Good news for motorists, the average price of gasoline in Milwaukee has fallen nearly 6 cents in the past week. According to GasBuddy’s daily survey of 615 gas outlets in Milwaukee, the average price per gallon was $2.16, 7-cents lower than the national average of $2.23 per gallon.
According to GasBuddy.com, the price per gallon is nearly 32-cents lower than it was one year ago at this same time.
"October is a time we all expect gas prices to decline,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. Over the past four Octobers, Laskoski said the average price of gasoline has decreased by 20-cents a gallon.
"But this month has proven to be an exception with the national average still a few cents higher than where it was on October 1 at $2.22,” said Laskoski. While the price increase of crude oil has stalled the expected price decrease for retail gasoline, Laskoski said problems at major refineries in Indiana, Texas, Louisiana and California have also adversely impacted supply.
The most recent U.S. Energy Information Administration report shows U.S. refinery output at just 85.5%, the lowest level since January 22, 2015.