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Thu October 17, 2013
Gas Prices Spike In Northwoods
Gas prices had dropped to $3.31 per gallon this week, then Wednesday the price rapidly spiked to $3.49 per gallon in Rhinelander and Eagle River, $3.39 in Minocqua, but held at $3.30 in Antigo, according to the website gasbuddy. com
Gasbuddy.com Senior Petroleum Analyst Gregg Laskoski says wholesale prices are to blame for the spike after a long downward trend...
"....since October 4, we've seen wholesale gas prices increase from eight cents a gallon to twenty cents a gallon. In your area, we've seen price increases of at least 14 cents a gallon in wholesale prices..."
Laskoski says the wholesale price doesn't always indicate higher pump prices, but generally it does. But the reason why the spike occurred, he says, is unknown thanks to the wrangling in the nation's capitol...
"...because of the (federal government's) shut, the Department of Energy's weekly report which would have come out yesterday morning, giving us a snapshot on crude oil inventory, gasoline inventory as well as refinery operations, that data is simply absent from the discussion...."
Laskoski says the state average today is $3.34 a gallon, up 12 cents a gallon over the past week. A year ago the average price was $3.63 a gallon.
Middle East stability key