Experts see gas at $3.50 per gallon by May

BILL NOVAK | The Capital Times

Gasoline prices continue to climb, with the latest predictions from some oil industry experts pegging gas at $3.50 a gallon by May.

Bloomberg.com reported the $3.50 mark is based on estimates from 14 analysts in the oil industry.

High demand coupled with unrest in the Middle East is pushing crude oil prices higher, and analysts say the barrel price could top $100 this spring.

Regular is selling for an average $3.159 a gallon in Wisconsin on Friday, up almost 15 cents from a month ago and 52 cents higher than a year ago, according to the daily fuel gauge report from auto club AAA.

In Madison, prices range from $3.04 to $3.19 a gallon on Friday morning, according toMadisonGasPrices.com.

The national average for regular is $3.124 a gallon, AAA said, with only 13 states selling regular at an average price of less than $3 a gallon.

Hawaii has the highest average price for regular at $3.731 a gallon while Wyoming has the lowest average at $2.879.

In Wisconsin, Janesville drivers are paying the least for regular at an average $3.122 a gallon on Friday, followed by Madison at $3.129, Milwaukee at $3.135, La Crosse at $3.137, Green Bay at $3.151 and Eau Claire at $3.239.

In the Midwest, Ohio has the lowest average price for regular at $3.109 a gallon, followed by Indiana at $3.125, Iowa at $3.131, Minnesota at $3.146, Wisconsin at $3.159, Michigan at $3.178 and Illinois at $3.272.

For anyone in Dallas for the Super Bowl, gas prices in the Big D are lower than here, averaging $2.942 a gallon on Friday.