Chart courtesy MilwaukeeGasPrices.com
Ah, the good old days, when gasoline sold for less than $3 a gallon!
Was it really just two weeks ago we posted about gasoline prices approaching that level? Yup.
So much for the suspense. Worldwide, a barrel of crude oil is flirting with $100 a barrel (it hit $99.29, a record, yesterday), a number unthinkable as recently as this summer. Venezuela's president Hugo Chavez, looking ahead, threatened $200 a barrel just a few days ago, although this morning, former Saudi oil minister Ahmed Zaki Yamani said it could tumble as low as $75 a barrel if OPEC decides to raise output next month and if the winter season is mild. Two big "ifs." But he echoed Chavez warning that prices could surge as high as $200 if the United States attacked Iran.
That SUV doesn't seem such a good idea these days, eh?
As the chart above shows, average prices in Wisconsin, Milwaukee and the U.S. are solidly above the $3 figure; cheapest price for regular in Milwaukee today was $3.09.
Enjoy your holiday travel. Try not to think about it.