Gas prices lowest in nation since January
AAA: Combination of supply, demand, crude oil prices bode well for drops in prices
Gas prices around the nation are at their lowest level since January, and some experts say they could continue to fall at or below $3 a gallon as we get closer to the holidays.
After a jump at the beginning of the year, gas prices have been mostly falling, especially since July, which is when crude oil prices started dropping.
With fewer people hitting the road in the winter months, gas prices could go down even further.
“The question is: how low will they go?” said Pam Moen, with AAA Wisconsin. “That’s not something we can say definitively today, but certainly that supplies are strong, demand is fairly modest and crude oil prices are dropping below the $100 a barrel mark for the first time in a long time, that all adds up and bodes well for continued drops in prices.”
The state average is now $3.32 -- down from $3.35 last week and nearly 20 cents cheaper than the same time last year.
Madison is at $3.30, which is down 3 cents in a week. Janesville drivers are paying less at $3.28 a gallon. Milwaukee has the cheapest gas in the state at $3.24 a gallon, which saw a 6 cent drop in a week.
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