Cold temperatures boost Madison gas prices in past week
The price of gas nationally has risen more than 10 cents per gallon in the last week, and more than 24 cents per gallon from one month ago.
MADISON, Wis. (WMTV) - Gas prices in Madison have risen more than 11 cents per gallon in the past week, GasBuddy reports.
These prices are more than 29 cents per gallon higher than a month ago in Madison and are more than 22 cents higher per gallon than a year ago, according to a news release.
After conducting a daily survey of 210 stations in Madison, the travel app notes that the cheapest price in Madison is currently $2.34 per gallon, while the most expensive is $2.59. Across Wisconsin, the lowest price is $2.30 per gallon. The highest price for gas across the state is $2.99.
Patrick De Haan, the head of petroleum analysis for GasBuddy, notes the cold temperatures last week shut down millions of barrels per day in refinery capacity. This is what is causing the jump in prices.
“With the cold weather behind us, price increases show begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks,” De Haan said. " However, as we near spring weather, we’ll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn’t jump for joy just yet.”
The price of gas nationally has risen more than 10 cents per gallon in the last week, and more than 24 cents per gallon than one month ago.
GasBuddy included the gas prices in Madison at this time of year over the past decade, with the highest price being reported in 2013 at $3.74 per gallon.
- February 22, 2020: $2.28/g (U.S. Average: $2.48/g)
- February 22, 2019: $2.30/g (U.S. Average: $2.40/g)
- February 22, 2018: $2.37/g (U.S. Average: $2.52/g)
- February 22, 2017: $2.23/g (U.S. Average: $2.28/g)
- February 22, 2016: $1.63/g (U.S. Average: $1.71/g)
- February 22, 2015: $2.23/g (U.S. Average: $2.29/g)
- February 22, 2014: $3.39/g (U.S. Average: $3.39/g)
- February 22, 2013: $3.74/g (U.S. Average: $3.78/g)
- February 22, 2012: $3.35/g (U.S. Average: $3.58/g)
- February 22, 2011: $3.16/g (U.S. Average: $3.16/g)
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