
A customer fuels a car Tuesday, May 10, 2022 at Kwik Trip, 2900 Holy Hill Rd. in Richfield, Wis. (USA Today via Reuters Connect)
As the U.S.-Israel conflict with Iran continues, the average price of gas in Wisconsin surged above $3 a gallon for the first time this year.
The average price for a regular gallon of gas in Wisconsin as of March 9 was $3.15, up nearly 40 cents from a week ago, according to AAA. In the Milwaukee-Waukesha metro area, the average price was $3.14.
In both cases, those prices are more than 20 cents higher than the same time last year. While seasonal gas price changes are partly behind the increase, the Iran conflict is driving up prices more than usual for this time of year.
The ongoing fighting in Iran has caused oil prices to rise to more $100 a barrel, their highest levels since 2022, and the average price at the pump across the United States reached an average of nearly $3.50 a gallon, USA TODAY reported.
Here’s what to know about gas prices in Wisconsin.
Why are gas prices rising in Wisconsin?
An increase in gas prices isn’t out of the ordinary for early March, as refineries make their annual switch from a cheaper winter blend gasoline to a more expensive summer version. The annual switch usually drives gas prices up between 20 and 50 cents from Valentine’s Day to Memorial Day.
In recent weeks, however, the conflict in Iran has also sent oil prices soaring globally and further exacerbated gas costs.
As of March 9, crude oil prices had topped $100 per barrel, according to USA TODAY.
The war has also effectively shut down the Strait of Hormuz, a waterway off Iran’s southern coast through which about 20% of the world’s oil and gas travels.
As oil prices continue to surge, it’s likely the national average price of gas could reach $4 within the next month, Patrick De Haan, head of petroleum analysis at GasBuddy, wrote on March 8. This week alone, De Haan predicted the national average could climb to between $3.75 and $3.95.
As of March 9, the national average price was $3.48, nearly 40 cents higher than the same time last year. The last time gas prices jumped this much in a single week was in March 2022 during the start of Russia’s invasion of Ukraine, according to AAA.
Average gas prices in Wisconsin cities
Here are average prices for a regular tank of unleaded gas in Wisconsin cities as of March 9, from cheapest to most expensive, according to AAA:
- La Crosse: $3.03
- Appleton: $3.10
- Sheboygan: $3.11
- Oshkosh: $3.12
- Eau Claire: $3.13
- Racine: $3.13
- Fond du Lac: $3.14
- Green Bay: $3.14
- Milwaukee-Waukesha: $3.14
- Madison: $3.16
- Kenosha County: $3.17
- Wausau: $3.19
This article originally appeared on Milwaukee Journal Sentinel: Wisconsin gas prices up 40 cents in a week as Iran conflict continues
Reporting by Maia Pandey, Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
USA TODAY Network via Reuters Connect
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