Gas prices are rising, expected to rise
Gasoline prices in Wisconsin have risen more than 20 cents in the last week. Economists predict that prices could rise to $5 a gallon.
Milwaukee – Gas prices in Wisconsin have risen more than 20 cents over the past week. Economists predict that prices could rise to $5 a gallon.
AAA reports that the average price in Wisconsin is $3.55 per gallon. There is a certain reaction when you drive past a gas station.
“Funny,” said Tracey Flores. “I just passed two of them because I was looking for the lower one and couldn’t find it, so I had to stop.”
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Rising prices are already changing people’s habits. Flores makes adjustments.
“We only do the basics. Try car sharing,” Flores said.
Gasoline prices at Mobil gas stations on March 4, 2022.
Avik Chakrabarty, an associate professor of economics at the University of Wisconsin-Milwaukee, said economists have been predicting higher gas prices for years. Russia’s invasion of Ukraine only exacerbated the situation.
“When a relationship gets a little strained or, if you like, estranged, things like that happen,” Chakrabarti said. “I don’t think oil prices will go down very, very quickly.”
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Chakrabarti predicts that prices could stay above $4 throughout the year. He hopes he’s wrong, like almost everyone else.
“I want prices to fall again,” said Debbie Tipton, “hopefully soon.”