New Year gas prices could set all-time record high - WKOW 27: Madison, WI Breaking News, Weather and Sports

New Year gas prices could set all-time record high

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MADISON (WKOW) -- Average retail gasoline prices in Madison have fallen 1 cent per gallon in the past week, averaging $3.16/g Sunday. This compares with the national average that has not moved  in the last week to $3.24/g.

Including the change in gas prices in Madison during the past week, prices yesterday were 6.3 cents per gallon lower than the same day one year ago and are 22.5 cents per gallon lower than a month ago. According to gasoline price website GasBuddy.com, the national average has decreased 19.1 cents per gallon during the last month and stands 1.3 cents per gallon higher than this day one year ago. 
 
"With just hours to go before Christmas, it appears that the national average may set a new all-time record high, barely edging out 2011 as the most expensive average for gasoline on Christmas Day," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

"The bad news likely won't stop there- gasoline prices in six out of the last seven years have increased between Christmas Day and January 15 of the following year. If the national average rises to at least $3.26/gal before New Years Day it will mark the highest start for gas prices ever on the first day of the year," DeHaan said.

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