Gas prices fall a nickel

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Gasoline prices in Tacoma have fallen 5.0 cents per gallon in the past week, averaging $3.32 per gallon, according to GasBuddy’s daily survey of 271 stations in Tacoma. This compares with the national average that has fallen 1.1 cents per gallon versus last week to $2.85 per gallon.

Including the change locally during the past week, prices yesterday were 50.4 cents per gallon higher than a year ago and are 9.5 cents per gallon lower than a month ago. The national average has dropped 3.6 cents per gallon during the last month and stands 50.3 cents per gallon higher than a year ago.

“Yet again, average gas prices have remained fairly quiet. This summer has been remarkably mum at pumps with most states seeing prices move in an uncharacteristically small summer range of 10-20 cents per gallon or less,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices continue to be range bound between $67 and around $73 per barrel as of late as competing factors weigh on oil prices at very similar times. Oil inventories have continued to decline, but gasoline inventories remain healthy, and with summer drawing to a close and gasoline demand set to step down, we may see additional relief coming barring any disruptions to the flow of oil or gasoline like a major hurricane.”

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