Experts predict gas prices in Madison will rise 80 cents by mid-May, an escalation which coincides with the coldest months of year.
According to Jason Poews, the co-founder of madisongasprices.com, the national average for regular unleaded gas is $1.88 per gallon and it is “on its way up.”
As of Tuesday, the average price for regular unleaded gasoline in Madison is $1.95 per gallon, significantly higher than the $1.88 per gallon national average for regular unleaded gasoline, according to madisongasprices.com.
Last week, the average price for regular gas in Madison was $1.90 per gallon, about five cents less than the current average.
Poews estimates gas prices will escalate, reaching $2.75 per gallon in Wisconsin by the middle of May, which is the start of the “driving season,” lasting until Labor Day weekend.
He said gas is the most expensive in the interim between Memorial Day weekend and Labor Day weekend, adding prices this summer are not expected to reach the highs seen last summer.
Poews added gas prices are “very seasonal.” They are typically lower in the winter, but they edge up in late January and early February when people tend to drive more often.
Gas prices are also affected by crude oil prices, which went from $32 per barrel this fall to $40 per barrel this winter, according to Poews.
He added the state of the national economy also affects gas prices. The recession worsened the falling gas prices this summer, when the average price for regular unleaded gas in Madison reached a high of $4.08 per gallon.
“Gas prices have gone up about 15 cents over the last two weeks,” said Darren Duffey, employee at Amoco BP Station on Mineral Point Road in Madison.
The most expensive gas prices in Wisconsin can be found in Oneida County, where the price for regular unleaded gas is $2.01 per gallon, Poews said. The least expensive gas is in Rock County, where the price of gas is $1.92 per gallon.
Cesar Martinez, a University of Wisconsin student from San Fernando, Calif., said the rising gas prices have definitely affected him.
“I have to put the important stuff first,” Martinez said.
Because there is also an increase in school tuition, Martinez plans to drive less and take the bus more often to save money.
Martinez added gas in Madison is less expensive than it is in California. The average price for a gallon of regular unleaded gas in California is $2.12, the most expensive price per gallon in the continental United States, according to Poews.
Although gas prices vary depending on location in relation to oil refineries, gas prices at wholesale clubs such as Sam’s Club and Costco are usually cheaper than the leading brands of gasoline.
Additionally, smaller, independently-owned gas stations and those found in affluent areas generally have more expensive gasoline, Poews noted.
