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Gas prices higher in Milw. than the national average
Gas prices higher in Milw. than the national average
MILWAUKEE (WITI) -- The price of a gallon of gas keeps going up.
The average price nationwide has gone up about 20 cents a gallon in the past two years.
Experts say the basic reason for the increase is crude oil prices have increased in that same time.
Those have gone up because of supply and demand here, because of colder weather.
However, the biggest reason for the increase is blamed on one country.
"As I like to say, the reason why prices are so high are three factors China, China and China. It's basically record demand year after year and with increases in supply, it's a tight market," Petroleum Institute Chief Economist John Felmy said.
Felmy also explained why prices here in Wisconsin are higher than the national average.
He says the state has higher taxes and in the Milwaukee area, we have a specialized blend that is more expensive to produce.
CLICK HERE to take a look at gas prices throughout the Milwaukee area via the FOX6Now.com "Gas Tracker."