Energy Economy

Gas Prices in Wisconsin Drop Below $1.20, Other States to Follow

Widely followed figures from gasoline prices research firm GasBuddy show that the average price for a gallon of regular in Wisconsin dropped below $1.20 to $1.18. Several states almost certainly will follow, as oil prices have dropped to less than $15 a barrel.

States with prices on their way to $1.20 or below include Oklahoma at $1.36, Ohio at $1.39, Michigan at $1.42, Kentucky at $1.44, Arkansas at $1.44, Indiana at $1.45 and Iowa at $1.48. These are not states that traditionally have low gas prices. The lowest prices are usually in states close to the Gulf of Mexico and to the huge refineries just south of Houston.

Gas prices in the Gulf states are still relatively low. The price in Mississippi is $1.50. In Texas, it is $1.51. It is $1.58 in Alabama and $1.63 in Louisiana.

State and local gas taxed usually have a large influence on the price. This is not the case now. Gas taxes in Wisconsin are in the middle of the range by state at $0.513 per gallon. That national average is $0.545. These taxes in Michigan are a relatively high $0.604.

Even traditional contributors to gas prices have been upended.