The average U.S. price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon, $1.61 higher than it was one year ago.
Industry analyst Trilby Lundberg of the Lundberg Survey says the price jump comes amid higher crude oil costs and tight gasoline supplies.
According to new data from the Energy Information Administration (EIA), the amount of domestic gasoline decreased by 4.8 million barrels to 220.2 million barrels in the last week, yet gasoline demand increased from 8.7 million barrels per day to 9 million barrels per day.
Milwaukee continues to set records for the average price of a gallon of gas since AAA began recording the statistic, currently sitting at a staggering $4.47 per gallon. That’s $0.56 higher than a month ago, and $1.58 higher than this time last year.
Kenosha County has the highest average cost per gallon of gas in the state according to AAA, with an average cost of $4.56 per gallon.
Statewide, the average cost per gallon of gas is $4.13, also according to AAA; the highest average cost on record was recorded last Thursday.
Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $6.20 per gallon. The lowest average is in Tulsa, Oklahoma, at $3.92 per gallon.
According to the survey, the average price of diesel rose 9 cents over two weeks, to $5.66 a gallon. Wisconsin’s average price for diesel sits just below $5.10.