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

By Douglas A. McIntyre Published Apr 23, 6:20AM EDT

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Gas Prices in Wisconsin Drop Below $1.20, Other States to Follow — © TECC / iStock

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.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.