02 August 2021

MADISON, Wis., (August 2, 2021) – Americans are paying a pretty penny to hit the road this summer. The monthly national gas price average has increased from $3.00 in May to $3.07 in June to $3.15 in July. The beginning of August will likely be as expensive as July, especially as crude oil prices remain over $70 per barrel. An increase in global crude production is expected this month. However, even with the additional supply, global demand could outpace global supply and keep prices high.

“On average, motorists are paying 15 cents more to fill up since the beginning of May,” said Nick Jarmusz, director of public affairs for AAA – The Auto Club Group. “August could prove to be even more expensive if crude oil prices increase, driven by market concerns of rising COVID case numbers and how that could negatively affect global demand in the near future.”

On the week, the national average increased by two cents to $3.17 with the majority of states seeing jumps between two to ten cents. Today’s average is a nickel more than a month ago and 99 cents more than a year ago.

As many travelers take final summer vacations and others return to school this month, AAA reminds drivers not to rely heavily on in-dash fuel economy displays. Just released AAA research found that a vehicle’s “miles to empty” estimates vary significantly and drivers could be taking an unnecessary risk if they over rely on these displays. With more expensive gas prices, motorists may be trying to stretch their tank to empty, but AAA recommends drivers watch their gas gauge and fill up when it reaches a quarter of a tank.

 

 

Monday

Sunday

Week Ago

Month Ago

One Year Ago

National

$3.176

$3.173

$3.156

$3.126

$2.183

Wisconsin

$3.027

$3.029

$2.997

$2.978

$2.058

Appleton

$2.942

$2.945

$2.896

$2.872

$1.913

Eau Claire

$3.049

$3.050

$2.971

$3.048

$2.076

Green Bay

$2.949

$2.954

$2.939

$2.942

$2.012

Janesville-Beloit

$3.023

$3.024

$2.987

$2.937

$1.950

La Crosse

$3.072

$3.070

$3.080

$2.976

$1.998

Madison

$2.995

$2.994

$2.960

$2.922

$2.044

Milwaukee

$3.037

$3.039

$2.993

$2.991

$2.053

Wausau

$3.068

$3.068

$3.027

$2.978

$2.118

Click here to view current gasoline price averages

 

Oil Market Dynamics

At the close of Friday’s formal trading session, WTI increased by 33 cents to settle at $73.95. A weaker dollar helped to push prices higher last week, while market concerns surrounding demand recovery continued to grow. Crude prices were also bolstered after the Energy Information Administration’s (EIA) latest report showed that total domestic crude stocks declined by 4.1 million bbl to 435.6 million bbl. For this week, crude prices could climb higher if EIA’s next weekly report shows another decline in total domestic crude supply.

Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

 

Ways to Save on Gasoline

  • Combine errands to limit driving time.
  • Shop around for the best gas prices in your community. 
  • Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
  • Remove excess weight in your vehicle. 
  • Drive conservatively. Aggressive acceleration and speeding reduces fuel economy. 
  • Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Members who enroll between July 1 and August 31, 2021 can save 30 cents per gallon on their first fill up. Click here for more information.

 

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