GREEN BAY, Wis. (WFRV) – As gas prices continue to trend downward, Local 5 News caught up with a representative from GasBuddy to talk about the trend we’ve all been looking forward to.
Patrick De Haan, the Head of Petroleum Analysis at GasBuddy.com says it’s been a fairly dramatic turnaround from where we were just one month ago when gas prices were pushing $5.00 per gallon.
“We haven’t seen such big declines routinely,” said De Haan. “In fact, only during COVID-19 and the 2008 recession have we seen prices decline so significantly in such a short period of time.
The average price of gas in Green Bay is just seven cents away from falling below the $4.00 mark and is something De Haan believes could happen sooner rather than later.
“If you’re an attentive driver, you’ll find out that some gas stations in Green Bay have already fallen below that $4.00 mark. A lot of people think ‘hey, the prices are falling down and I don’t need to shop around’ but it’s actually the opposite. There’s a much higher likelihood of overpaying if you’re not shopping around,” explains De Haan.
Although the gas prices are looking good in the City of Green Bay, the national average is still hovering around $4.45 per gallon. De Haan believes the decreases will continue throughout the next couple of weeks, but it’s not all rainbows and sunshine.
“There are some concerns that something like a hurricane could potentially disrupt falling prices. We are entering the peak of hurricane season in just a couple of weeks so that is something that could cause the decrease to reverse,” stated De Haan.
The Head of Petroleum Analysis continued on by saying the state of the economy could also reverse the decreasing gas prices but for now, enjoy the decline for the next week or two because after that it’s ‘murky’.