Washington gas prices continue to fall, bucking national trend
(The Center Square) – The statewide price of regular unleaded in Washington sat at $4.82 per gallon Monday, according to AAA data. The price dropped 10 cents per gallon from last week’s average.
This change moved in the opposite direction of the national average, which rose 4 cents per gallon over the same period.
Despite the four week-long downward trend, the AAA data still shows Washingtonians paying $1.02 more per gallon at the pump than the national average. That is 27% over the national average of $3.80 per gallon for regular unleaded.
“The oil market, like the stock market, hates negative headlines, no matter how speculative, and that is why we see the oil price back over $90 a barrel,” said AAA spokesperson Andrew Gross in a statement Monday. “More expensive oil usually leads to more expensive gasoline, but the recent Covid-related news from China may stem this increase.”
AAA reported, “Tighter supply and fluctuating oil prices have put upward pressure on gasoline prices. Pump prices could increase if supply remains tight alongside rising oil prices.”
After a three week-run near the top of the volatility list, Evergreen State was absent from AAA’s top 10 largest weekly changes the past two weeks running.
The nation’s two cheapest markets for gas are Georgia and Texas, sitting at $3.12 and $3.17 per gallon respectively.
Washington is currently edging out 44 other states to take 5th place for most expensive gas, with Oregon, Nevada, Hawaii and California filling out the rise from fourth to first. It’s currently 8 cents per gallon cheaper to fuel up in Alaska, ranked sixth nationwide, than in Washington.
Starting Jan. 1, Washingtonians have a new cap-and-trade tax to look forward to which, as previously reported by The Center Square, would drive fuel costs an estimated 46 cents per gallon higher. This is on top of Washington’s current rate of 49.4 cents per gallon of state tax.
