MADISON, WI (WTAQ) - Wisconsin gas prices went down by nine cents a gallon in the last week – but that could change, after the death of Venezuelan President Hugo Chavez.
Erin Roth of the Wisconsin Petroleum Council says Venezuela has the world’s largest oil reserves – and the world oil markets could be affected if Chavez’s death causes political instability and lower oil production.
But Roth says Wisconsin motorists might not feel too much of an impact.
That’s because the U.S. has imported less oil from Venezuela in recent years, due to higher production both here and in Canada.
The AAA said Wisconsin gas prices have steadily risen this year, until just recently.
Regular unleaded averages $3.68 a gallon in the state Friday morning. That’s down a penny from Thursday, and down 9 cents from last Friday.