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Gas prices low now, expected to tick higher soon

MADISON (WKOW) — Gas prices are lower than they’ve been in a while, but experts think that will change soon.

GasBuddy said Monday the average price per gallon is $1.99 in Madison and nationwide the average is $2.24. Compared to a year ago, that’s about 40 cents lower.

GasBuddy analysts said they’re anticipating a hike in prices.

“With oil prices back over $50 per barrel, it looks like gas prices in more areas may soon bottom out and start to tick higher. While it doesn’t seem that prices will rise very far, it looks more and more like the lowest price of the year may now be behind us,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

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