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Parts of Milwaukee see gas prices dip below $3 a gallon

MILWAUKEE (WTAQ) - It's been almost three years since gasoline prices started with the number "2" in Wisconsin. 

That's what we're seeing Thursday morning in parts of the Milwaukee area.

Milwaukee Gas Prices.Com reports a low of $2.73 a gallon in suburban Greenfield for regular unleaded, but that's the exception rather than the rule. 

The Triple-"A" reports a statewide average of $3.14 a gallon Thursday morning. The Milwaukee price site reports an average of $3.05 in the state's largest metro -- down about a quarter over the past month.  

Analyst Patrick DeHaan of Gas Buddy.Com says gasoline supplies are swelling, due to higher U.S. oil production in places like North Dakota. He said that for the first time in decades, America is producing more of its own oil than it's importing. 

Also, experts say gas prices generally fall in the winter due to lower demand for fuel. 

Energy consultant Jim Ritterbusch of Galena Illinois says he expects crude oil prices to fall by as much as $6 a barrel in the coming weeks.

Benchmark U.S. crude closed slightly higher in New York Wednesday, to almost $94 a barrel.