Tuesday, November 28, 2017/lk
OMAK Average retail gasoline prices in Washington have fallen 1.4 cents per gallon in the past week, averaging $2.95 per gallon as of Nov. 27.
Prices are based on GasBuddy’s daily survey of 2,666 gas outlets in Washington.
That compares with the national average, which fell 3.9 cents per gallon in the last week to $2.49 per gallon, said gasoline price website GasBuddy.com.
Including the change in gas prices in Washington during the past week, prices Sunday were 35.9 cents per gallon higher than the same day one year earlier and 6.0 cents per gallon higher than a month ago.
The national average has increased 3.4 cents per gallon during the last month and stands 37.9 cents per gallon higher than the same day one year ago.
According to GasBuddy historical data, gasoline prices on Nov. 27 in Washington have ranged widely over the last five years: $2.59 per gallon in 2016, $2.45 per gallon in 2015, $3.07 per gallon in 2014, $3.28 per gallon in 2013 and $3.48 per gallon in 2012.
Areas in Washington and their current gas price climate:
-Tacoma - $2.97 per gallon, down 2.6 cents per gallon from last week’s $3 per gallon.
-Seattle - $3.03 per gallon, down 2.9 cents per gallon from last week’s $3.06 per gallon.
-Yakima - $2.91 per gallon, up 2.4 cents per gallon from last week’s $2.89 per gallon.
“With Thanksgiving travel now behind us, all eyes turn to OPEC and their meeting this week to determine the fate of the cartel’s oil production,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“Gasoline prices took a breather heading into Thanksgiving, which may last another few days, but as oil prices perk back up heading into OPEC’s annual meeting, we may see a rebound soon,” he said. “OPEC’s decision may reverberate at pumps in the months and year ahead, and while the decision is likely to be an extension of production cuts made at their meeting a year ago, it’s certainly not yet guaranteed.
“Global oil inventories have already tightened noticeably in the last year and continuing such in the face of rising demand may spur oil prices even higher in the days, weeks and months ahead.”