I can’t say for Milwaukee.
How come gas is 3.29 in my part of West Texas? That’s too high, but lower than in a lot of places.
Another way to look at it is, those idiots that were salivating at the thought that gas was headed to, first 5, then 10 $$$ a gallon have been kicked in the teeth.
A number of factors go into the price of gas at the pump. It’s worthwhile to list them, but I’m not in the mood for getting down into those weeds.
Supply and demand is only one of them, given all the other things that are affecting prices, too.
Actually, I can repeat their excuse for the high price — rumor.
There was a rumoor that a distributor would not be able to meet its delivery schedule last week and that caused the price to jump from $3.89 where it had been stuck for weeks to $4.09 (and as high as $4.21) over night.
Gas will never be $2.00 per gallon again, and you don’t want it to be.
Yes, we have the wonderful technology that has made accessible oil and gas reserves that were previously thought to be not recoverable. But it comes at a cost. It costs $70 per barrel just to get the oil out of the ground in a shale fracking operation. That means that with transportation and other costs, we need oil to be at $80-90 per barrel just to make it economically profitable to drill for it here.
If the price drops below that amount, the wells shut down, we lose jobs and all this good economic news is history.
As long as the price is stable around $3.50 per gallon, we can enjoy the energy boom, the economy will adjust and life will be good. In fact, it’s been stable around this price range for about five years now, and that’s why we are having the domestic energy increase.