Gas prices decline slightly in Washington and nationwide
NANCE BESTON | Hagadone News Network | UPDATED 1 year AGO
MOSES LAKE — In a welcome development for motorists, the national average price of gasoline has fallen for the first time in nearly a month, dropping 7 cents from last week to $3.13 per gallon, according to data from GasBuddy. This decline comes after a period of rising prices, with the national average up 7.8 cents from a month ago but 46.9 cents lower than the same time last year.
In Washington state, where prices tend to be higher than the national average, the current average price stands at $4.30 per gallon, a slight decrease from $4.31 recorded a week prior. The state's prices, while markedly lower than their peak in early April 2024 of $4.38, continue to reflect a significant regional variance.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributed the recent dip in gasoline prices to a decrease in crude oil costs, driven by concerns over tariffs and a quicker-than-expected restoration of production by OPEC+.
"While I do expect gas prices to continue trending lower, any abrupt change in the current tariff situation could eventually bring the decline to a halt," De Haan said.
U.S. oil prices have recently seen a rebound, with West Texas Intermediate crude climbing to $62.43 per barrel, up from $60.47 the previous week. Brent crude rose to $65.66 per barrel. These increases are partially fueled by the temporary pause on tariffs announced by President Trump, which exempt some Chinese-produced items.
The most recent EIA Weekly Petroleum Status Report indicated that U.S. oil inventories have risen by 2.6 million barrels, although gasoline inventories dropped by 1.6 million barrels.
ARTICLES BY NANCE BESTON
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