US gas prices rises 10 cents in past week

MADISON: After a few weeks of relatively stable prices, Madison’s gas prices took another big hit this week, this time for the worse.

According to the most recent weekly data from GasBuddy, a gallon of gas has increased to $3.87, costing around 10 cents more this week than it did last week.

According to a poll released on Sunday, the most costly gas in Madison was $4.17 a gallon, while the cheapest – and also the cheapest in Wisconsin – was $3.66.

Gas prices soared to the same $4.17 nationwide that was the highest recorded in Madison. Despite a nearly seven-cent increase, the US average is still a penny lower than a month ago, but $1.17 higher than this time last year.

While gas prices rose, the big story, according to GasBuddy’s head of petroleum analysis Patrick de Haan, is diesel costs, which hit an all-time high on Friday.

He predicted that while gas prices will rise gradually, the increase in fuel prices will be “meteoric,” causing suffering in more places than simply at the pump.

“For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy,” he explained.

Gas prices in Madison haven’t changed by more than a nickel in the last two weeks. This followed two weeks of decreases of around ten cents. Prices in the city soared in late February and early March, with one week seeing an increase of more than 50 cents.

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