‘It’s gonna break the bank’: Gas prices spike in SE Wisconsin
CBS 58 MILWAUKEE (CBS 58) - Gas prices in southeast Wisconsin jumped overnight, with gas stations across the area over $4 a gallon.
According to AAA, the average price in Wisconsin is now $3.96 a gallon.
“It’s not the war, it’s a refinery issue, apparently there were some issues at a refinery in Indiana and that is the major supplier of gas in southeast Wisconsin,” said Margaret Hughes-Morgan, Marquette professor of management.
Hughes-Morgan says the recent jump will eventually go away, but the high prices we’ve seen in the last several months will stick around.
“Gas prices that went up with regards to the refinery issues will come back down quickly,” Hughes-Morgan said. “The gas prices due to the war will remain high until the issue with the war is resolved.”
For now, drivers will be forced to pay up at the pump.
“It’s gonna break the bank a little bit more than it does every other week,” Bay View resident Zachary Schupp said. “You have to get gas, otherwise what am I gonna do walk to work?”
The high gas prices can translate to other industries, but the signs are painting towards the recent surge to be a short-term problem.
“Gas prices translate to higher prices everywhere, but it’s been a short term enough issue that I do not believe it’s going to have a huge impact on the state of the economy long term,” Hughes-Morgan said.