National Average for Gas Enters Fourth Week Above $3

Experts were predicting that gas prices wouldn’t stay above $3 very long, estimating a fall around Memorial Day weekend. But, that isn’t happening; instead, the national average price for a gallon of gas is entering it’s fourth week above the $3 marker.

Wisconsin drivers are still below a $3 average, paying around $2.88/g. This is 3.1 cents higher than last month and 94.4 cents higher than this time last year. According to a Gasbuddy expert, part of the high price tag has to do with demand.

“According to GasBuddy data, gasoline demand last week eclipsed the prior week, when millions of Americans were gearing up for Memorial Day travel, not an easy feat, but highlights that economic conditions are ripe for continued growth in demand, contributing to prices holding at high levels,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “s OPEC has maintained a slow but steady increase in oil production, that additional production is quickly being gobbled up by a global economy that continues to recover.”

Now, barring any future problems to supply and demand, De Haan says gas prices are likely to hover around the low $3 mark through July 4.