Local News

Drop in gas price gift for holiday season

Cost per gallon below $3 in some parts of state

MADISON, Wis. - Gas prices drop video

Gas prices are dropping below $3 a gallon in some parts of the state.

It's welcome news for many consumers. Friday afternoon cars and trucks were lining up to get gas at the Mobil on Walworth Street in Darien.

"I've been working here for five years and I think it's been once that I've seen it under $3," cashier Tiffany Cruz said.

For the last two days customers have been bringing vehicles to their driveway to the Darien food mart and filling up.

"It helps on the pocketbook a little bit, you save a little bit of money," said Janesville resident Roger Ellingsrud.

Landry Loftus of Elkhorn is a contractor. He was filling up before heading to another job in the Beloit area.

"It's a little nicer to be able to afford to be able to put more than 20 bucks in at a time when it gets down this low," he said.

The question on everyone's mind is how long the low prices will last. Madison College economics professor Richard Shaten, said prices going up and down is common, but exactly when they'll drop is hard to predict.

"It's speculation in the market place that kind of drives these weekly and monthly gasoline prices. And right now we're in a cycle where speculators aren't real confident about where oil prices are going to be a month from now," Shaten said.

He added seasonal fluctuations are common. That's what folks at the Frawley's Citgo in Delavan experienced on Thursday.

"It was chaotic. We didn't run out of gas, until this morning we ran out eventually," cashier Kayla Acosta said.

Thursday customers like Helen Talis, got a pretty sweet deal at the gas station on Sugar Creek Street. "Usually around the holidays you expect to see the gas prices go up, so it was wonderful."

Acosta said it's too bad it didn't last. "Everybody was ecstatic and now that we're back up a little bit everybody is already like what happened, everybody is already stressing it," she said. 

Professor Shaten said everything from holiday shopping to the weather could impact the price we pay at the pump. Customers at the Mobil tell News3 several gas stations in the Delavan and Darien area have had gas at $2.99 for the last few days. The last time the nation averaged under $3 for gas was 2010.

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