Average Gas Prices for Wisconsin Around $3.72

Tuesday, August 9th, 2022 -- 10:04 AM

Despite steadily falling gas prices during the peak of the summer driving season, fewer drivers fueled up last week.

It’s another sign that, for now, Americans are changing their driving habits to cope with higher pump prices. Meanwhile, the cost of oil has edged lower on fears of economic slowdowns elsewhere around the globe. Because of these factors, the national average for a gallon of gas fell to $4.05.

According to new data from the Energy Information Administration, gas demand dropped from 9.25 million b/d to 8.54 million b/d last week. The rate is 1.24 million b/d lower than last year and is in line with the need at the end of July 2020, when COVID-19 restrictions were in place and fewer drivers hit the road.

Moreover, according to EIA, the total domestic gasoline supply rose slightly by 200,000 bbl to 225.3 million bbl. If gas demand remains low and the supply continues to increase alongside falling oil prices, drivers will likely continue to see pump prices drop.

AAA finds that drivers made significant changes to cope with high pump prices. In a new survey, almost two-thirds of U.S. adults have changed their driving habits or lifestyle since March. Drivers' top two changes to offset high gas prices are driving less and combining errands.

Today's national average of $4.05 is 67 cents less than a month ago and 87 cents more than a year ago. For Wisconsin, gas was averaging $3.72 on Monday, down from $3.74 on Sunday. A week ago it was $3.89, compared to $4.51 a month ago, and $3.03 a year ago.

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