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Madison Reporter

Thursday, November 7, 2024

Representative of gas pricing app said there remain many factors driving prices

Gaspump

Average prices nationwide rose by 3.4 cents, according to figures provided by GasBuddy on Monday. | Wikimedia Commons

Average prices nationwide rose by 3.4 cents, according to figures provided by GasBuddy on Monday. | Wikimedia Commons

Madison motorists are now facing average gas prices as high as $3.73 per gallon after prices jumped by 40 cents in the area during the final week of September.

At the same time, average prices nationwide rose by 3.4 cents, according to Monday figures provided by GasBuddy. Given the sharp local price surge, researchers note that Wisconsin is part of the Midwest and Great Lakes regions that have already seen huge price increases, due in part to refinery issues, the war in Ukraine and maintenance concerns, with each of the factors occurring during a short period of time.

Experts further caution that the increases show few signs of being on course to slow down anytime soon.

“Hopefully, disruptions will be very limited due to [Hurricane] Ian,” GasBuddy representative Patrick Haan told NBC15.com. Ian could spark across-the-board disruptions.

“But there remain many factors driving prices both up and down across the country,” Haan added.

While the Milwaukee area also saw prices jump by about 20 cents per gallon, the increase in Madison was markedly higher, with at least one local station reported charging as much as $3.99 per gallon.

After a short respite, NBC15.com reports that the national rise in gas prices represents the first increase over the past 14 weeks.

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