Gas prices give area drivers reprieve, but trend expected to reverse

Image courtesy MGN Online.

(WLUK) -- Drivers in Northeast Wisconsin got a break at the pump last week.

According to GasBuddy, the average price of a gallon of gas in the Appleton area fell 2.4 cents to $2.48 as of Sunday. In the Green Bay area, the average was down 0.4 cents to $2.49.

Don't expect the trend to continue, experts warn.

"While oil production in the U.S. reaches highs not seen since the 1970's, OPEC's production cuts for the last year have weighed heavily on global inventories, mitigating any small rise in U.S. production. And the damage could get even worse as refinery maintenance season and summer gasoline is on the horizon," Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a news release. "This has been a storm brewing since the Obama administration legalized oil exports and OPEC decided to forgo market share to tighten global supply. All of this and more will lead to average gas prices being 25-50 cents per gallon higher by Memorial Day."

The national average price of a gallon of gas rose 1.9 cents to $2.60 last week.

close video ad
Unmutetoggle ad audio on off