Gas prices fall

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Gasoline prices in Tacoma have fallen 8.3 cents per gallon in the past week, averaging $3.16 per gallon, according to GasBuddy’s daily survey of 271 stations in Tacoma. This compares with the national average that has fallen 5.7 cents per gallon versus last week to $2.36 per gallon.

Including the change locally during the past week, prices were 25.8 cents per gallon higher than a year ago and are 24.8 cents per gallon lower than a month ago. The national average has dropped 26.1 cents per gallon during the last month and stands 5.7 cents per gallon lower than a year ago.

“For the tenth straight week, gas prices have been in a state of decline, falling to the lowest level since prior to Hurricane Harvey in 2017 to the mid $2.30s with now 31 states with at least one gas station selling gasoline under $2 per gallon, saving motorists hundreds of millions of dollars versus prices just two months ago,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices have been slow to react to a cut in oil production from OPEC, instead focusing on economic concerns and trade tensions with China. Thus far, it seems that it ‘may take a village’ to help oil prices recover, help that would include robust demand from the U.S., which seems to be anything but the case. For now, prices will remain seasonally challenged, tied to the fact or expected fate of the economy moving forward.”

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