Analysts: $3 Gas By Memorial Day

MADISON, Wis. (WTAQ) - Gas prices have gone up almost 20 cents a gallon in Wisconsin over the past month. And some analysts say we’ll be paying $3 by Memorial Day for unleaded regular. Brian Milne of the fuel industry news service Telvent DTN says the annual switch from winter to summer blends is causing some of the price hikes, along with speculative investors who are grabbing up futures’ contracts.

Also, AAA analyst Andrew Delmege says folks are able to pay more due to a short-term improvement in the economy. The AAA says the average statewide price of unleaded regular is $2.78 a gallon Friday. That’s 8 cents higher than last Friday, and 19 cents more than the same time a month ago. Milne says we could see another 25 cent price hike by the end of May.