Gasoline prices decline in Wisconsin and nationwide

Motorists in southeast Wisconsin have noticed a significant drop in gasoline prices in the past week.  According to GasBuddy’s daily survey of 615 gas outlets in Milwaukee, the average price of a gallon of gasoline has dropped by nearly 11 cents in the past week.  The average price yesterday was $2.46 per gallon.  This is still higher than the national average of $2.26 per gallon.

"Falling gasoline prices have been the name of the game after a brief hiatus," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. "Forty-nine of the nation's 50 states saw gasoline prices fall an average of six cents a gallon during the last week”  DeHaan said the Midwest saw the biggest declines as supply concerns were eased as some refiners returned from maintenance. 

Oil prices also took a break after the largest weekly increase since 2009, according to DeHaan.   "At last week's close, a barrel of West Texas Intermediate crude was seen trading around $46 per barrel, which certainly helped gasoline prices fall,” said DeHaan. 

Including the change in gas prices in Milwaukee during the past week, prices yesterday were 67 cents per gallon lower than the same day one year ago and just over 5 cents per gallon higher than a month ago. The national average has decreased 3.7 cents per gallon during the last month and stands 84.5 cents per gallon lower than this day one year ago.