Gasoline prices in Tacoma have fallen 6.7 cents per gallon in the past week, averaging $3.28 per gallon, according to GasBuddy’s survey of 271 stations in Tacoma. This compares with the national average that has fallen 0.8 cents per gallon versus last week to $2.83 per gallon.
Including the change locally, prices were 28.9 cents per gallon higher than a year ago and are 4.3 cents per gallon lower than a month ago. The national average is unchanged during the last month and stands 28.8 cents per gallon higher than a year ago.
“With a muted response from OPEC to President Trump’s exhortation via Twitter that OPEC do something to reign in high oil prices, we may see energy markets rally as concerns grow that Iran’s sanctions effective in November may pose more a challenge to global supply than anticipated,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices jumped to fresh highs last night on reaction to the chilly reception to Trump’s concern, with several oil ministers downplaying the rise in oil prices. Moving forward, with Iran’s oil essentially out of reach, gas prices may not see the typical decline we had been expecting as recently as the last two weeks as new concerns emerge about the tightrope balance some oil producing countries are hoping for- pushing supply down as global demand rises. That’s not going to be good news for motorists.”