Wisconsin Gas Prices Are Expected To Stay Stable Over Holiday Weekend

Wisconsin gas prices aren’t expected to spike this holiday weekend despite the ongoing turmoil in Iraq.

Wholesale prices for gasoline did jump about 10 cents per gallon over the past month as militants known as the Islamic State of Iraq and Greater Syria began an offensive against Iraqi security forces.

Senior petroleum analyst Patrick DeHaan with Gasbuddy.com said that jump is still working its way to consumers.

“It’s quieted down here over the last several days and prices have seemingly held pretty steady across the state,” said DeHaan.

DeHaan said even with continued attacks in Iraq — including one on an oil refinery — he expects prices to remain steady.

“Really the only thing that could, I believe, impact prices further is if Iraq’s oil exports would be disrupted,” said DeHaan. “That’s what the world is watching. Those 3 million barrels a day that Iraq ships out are what really matters.”

Despite the United States’ increased production of domestic oil, which surpassed imports in May, DeHaan said gas prices would jump significantly if fighting in Iraq cutoff exports.

“We are less reliant on Iraq’s oil, but that doesn’t mean Iraq’s oil makes no impact to global oil prices, which then we feel here in this country,” said DeHaan.

The average price for a gallon of gas in Wisconsin is around $3.70.