The Sconi

Wisconsin’s gas prices are on the rise, matching up with what has become a trend across the United States this past year.

The average cost of gas, according to AAA.com, is $3.11 in Wisconsin – a $1.14 increase from a year ago. According to Fox Business, the average American is paying $1 more at the gas pump than compared to 2020. The national average is $3.32 per gallon, which Fox Business says is the highest price in seven years. 

The cost of gas has risen over the past month by about 7.5 cents per gallon. According to Fox Business, the average price is up 5.2 cents from the past week.

Oil prices are the highest they've been in seven years with West Texas intermediate crude oil prices at more than $80 per barrel, according to Patrick De Haan, who is head of petroleum analysis for Gasbuddy.

“The nation’s gas prices were also pushed to their highest since 2014, all on OPEC’s decision not to raise production more than it already agreed to in July,” De Haan told Fox Business.

De Haan explained that this decision made an immediate impact on oil prices. He described the state of affairs as a “global energy crunch,” and added that drivers are spending $400 million more on gasoline daily than a year ago.

Only eight states have an average gas price of less than $3 per gallon. 

“The problems continue to relate to a surge in demand as the global economy recovers, combined with deep cuts to production from early in the pandemic,” De Haan told Fox Business. “If Americans can’t slow their appetite for fuels, we’ve got no place for prices to go but up.”

An opinion piece by the New York Post on Aug. 12 stated that President Joe Biden has created “roadblock after roadblock” in an effort to “decarbonize the U.S. economy.” 

The New York Post reported that National Security Adviser Jake Sullivan said that OPEC “must do more to support” the post-pandemic recovery. He added that Biden has “made clear that he wants Americans to have access to affordable and reliable energy, including at the pump.”

The editorial then says that since Biden arrived in office he “killed the Keystone XL pipeline, which would have brought 830,000 barrels of Canadian oil a day down south.”

On Oct. 13 CNBC.com reported that gas prices have increased 5.4 percent since 2020. The consumer price index of September report stated this was the largest increase since January 1991. Prices have risen across the board the past year, including a 42.9 percent increase for rental cars, a 24.4 percent increase for used cars, and an 18 percent increase for hotels. 

Wages grew by 4.6 percent over this time, but this shows that purchasing power has dropped considering this is below the normal rise of 5.4 percent, according to CNBC.

“The rise in shelter costs will exacerbate the negative financial impact so many households are feeling from higher prices,” Bankrate Chief Financial Analyst Greg McBride told CNBC. 

Realclearpolitics.com reported on Oct. 3 that inflation has shown that residents’ financial woes will be coming with the holiday season on its way. With temperatures dropping, the cost of heat will factor in as well. Natural gas prices are up 89%, as well. Real Clear Politics also noted that President Donald Trump had a 1.6% inflation average in his final six months, lower than September’s 5.4% inflation rate.

Fox News reported last week that White House Chief of Staff Ronald Klain tweeted that inflation was a “high-class problem.” This prompted a reply by Republican National Committee Rapid Response Director Tommy Pigott.

“Struggling to pay for food, fuel and housing because of rising prices is not a ‘high-class problem,'" Pigott tweeted. “Biden is making everyone worse off, but instead of stopping the damage, their strategy is to try to gaslight Americans.”

The highest recorded average price for regular unleaded gas in the state of Wisconsin was $4.115 on May 5, 2011.