Gas prices remain stable this week
NANCE BESTON | Hagadone News Network | UPDATED 2 months, 3 weeks AGO
MOSES LAKE — Gasoline prices in Grant and Adams counties remained relatively stable over the past week, even as fuel costs across much of the country continued to move lower, according to data from AAA.
As of Aug. 10, the average price for a gallon of regular unleaded gasoline in Grant County was $5.05, up 2 cents from $5.03 on Aug. 3.
In neighboring Adams County, the average price climbed to $5.01 per gallon, a 5-cent increase from $4.96 a week earlier.
Washington motorists are paying an average of $5.14 per gallon, up slightly from $5.13 a week ago. Nationally, the average price dipped to $4.09 per gallon from $4.10 the previous week.
Despite the slight week-to-week increases locally, fuel prices in Grant and Adams counties remain well below the highs seen earlier this summer.
Grant County averaged $5.50 per gallon at the start of June, while Adams County averaged $5.43. Statewide prices also have declined from a June 1 average of $5.71 per gallon.
July marked a period of moderation after sharp increases during the spring. Washington's average gas price in July was $5.03 per gallon, compared with a June average of $5.48. The national average fell from $4.07 in June to $3.94 in July.
Prices have risen significantly since the beginning of the year. On Jan. 5, the average price of gasoline was $3.79 in Grant County and $3.85 in Adams County. Statewide, gasoline averaged $3.84 per gallon, while the national average stood at $2.81.
National fuel analysts say recent price declines in many parts of the country may be short-lived as geopolitical tensions continue to affect energy markets.
“However, the wild ride continues,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Iran is pushing back against a reopening of the Strait of Hormuz, and oil prices edged modestly higher in Sunday night trading, signaling that the recent relief may not last. With the Strait remaining closed, upward pressure on fuel prices could return quickly, and if things don’t go well, the national average could climb to its highest level ever recorded this late in the calendar year. For now, enjoy the dip, but keep a close eye on how the Strait situation develops in the days ahead.”
Washington continues to have some of the highest gasoline prices in the nation, only behind California at $5.59 and Hawaii at $5.45, and Washington state averages are still running more than a dollar above the national average.
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