Gas prices fall a nickel

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Gasoline prices in Tacoma have fallen 5.1 cents per gallon in the past week, averaging $2.96 per gallon, according to GasBuddy’s daily survey of 271 stations in Tacoma. This compares with the national average that has increased 0.6 cents per gallon versus last week to $2.24 per gallon.

Including the change locally during the past week, prices yesterday were 5.7 cents per gallon higher than a year ago and are 21.4 cents per gallon lower than a month ago. The national average has dropped 10.4 cents per gallon during the last month and stands 29.1 cents per gallon lower than a year ago.

“The national average price for gasoline has seen little change in the last week in most areas, but this period remains the calm ahead of the storm, especially if China’s trade deal pans out into a larger trade agreement with the U.S.,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The transition to summer gasoline, a three month process, will begin in the weeks ahead, so the current period is still the calm before the storm. If a broad trade agreement with China does come to pass, that will enhance the normal rise of 35-75 cents per gallon that we see nationally from February’s low prices to Memorial Day weekend’s prices- so what you see today will likely feel like a completely different world than what we expect near Memorial Day.”

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