Expect Some Holiday Relief At The Pump, Says Oil Analyst

Many parts of Wisconsin are seeing gas prices dip below $2 a gallon for the first time since January and oil industry analysts expect the prices to stay there during the holiday season.

Gas stations are posting prices as low as $1.78 per gallon in places like Kenosha and Pleasant Prairie. According to Petroleum industry analyst Patrick DeHaan of Gasbuddy.com, that’s due to a trinity of factors including low demand for gas, fully operational refineries across the country and a glut of oil on the global market.

“Crude oil supplies are 100 million barrels higher than a year ago,” DeHaan said. “I think there’s still some downward pressure on oil prices and that we could see gas prices in Wisconsin spending a majority of the time during the next, say, one to two months at or below $2 a gallon.”

The statewide average is currently hovering around that price point. DeHaan said that’s the lowest it’s been for the holiday season since the great recession.