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UP, UP AND AWAY
Tuesday, March 1st, 2011 -- 12:13 pm
Posted by Riley Hebert-News Director
Oil and gas prices are rising due to unrest in the Middle East. Crude oil prices have increased about $15 per barrel this week, trading briefly at $100 on Monday.
That's the highest level since 2008.
"Today, we're seeing an average of $3.35," notes Pam Moen of AAA Wisconsin, "which is almost .25-cents higher than we were a week ago, and some .66-cents higher than we were last year."
Moen says Wisconsin’s highest recorded average price for a gallon of regular unleaded was $4.11 in July of 2008. At that time, crude oil was trading near 150-dollars-a-barrel.
"While we've seen a really heft jump, we're no where near where we were back in 2008," she say.
Will we be seeing 4-dollar a gallon any time soon? Moen says there's no way to know the answer to that question. It depends on the situation in the Middle East.
The Wisconsin Radio Network contributed to this report.
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