Why local gas prices jumped 4 to 7 cents

Don't blame Hurricane Matthew for gas prices going up

AP File Photo/Gene J. Puskar)
AP File Photo/Gene J. Puskar)

APPLETON, Wis. (WBAY) – If you see a gas station selling for $2.199 a gallon, fill ‘er up. Gas prices are jumping in Northeast Wisconsin.

In the four cities in our Action 2 News GasTracker reports, prices for unleaded gas jumped Tuesday and Wednesday to $2.229 to $2.249 a gallon. That’s 4 to 7 cents higher than last week, but the same or less than we paid one month ago.

Wednesday, oil prices hit their highest market price since June, closing in on $52 a barrel. At the same time, the American Petroleum Institute announced U.S. oil inventories fell for a fifth straight week, and the federal Energy Information Administration said gasoline inventories in the Midwest were down by 1.5 million barrels.

Hurricane Matthew approaching the East Coast also brings uncertainty to the gas market. While rising gas prices aren’t directly related to the impending storm, it could impact prices in the future if it disrupts transportation and gasoline supplies.

Nationally gas prices are 3 cents higher than a week ago, AAA reports.

Diesel prices in Green Bay have held steady around $2.45 a gallon since Sept. 21.