Gas prices inch up

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Average retail gasoline prices in Tacoma have risen 3.1 cents per gallon in the past week, averaging $3.25 per gallon, according to GasBuddy’s daily survey of 271 gas outlets in Tacoma. This compares with the national average that has increased 5.2 cents per gallon in the last week to $2.71 per gallon.

Including the change in gas prices in Tacoma during the past week, prices were 33.7 cents per gallon higher than the same day one year ago and are 19.1 cents per gallon higher than a month ago. The national average has increased 17.7 cents per gallon during the last month and stands 30.1 cents per gallon higher than this day one year ago.

According to historical data, gasoline prices on April 16 in Tacoma have ranged widely over the last five years, from
$2.33 per gallon in 2016 to $3.70 per gallon in 2013.

“The seasonal surge at gas pumps is in full motion, causing the most dreaded time of year for fearful motorists, especially of what may still be coming,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “With the national average gas price now at its highest since July 26, 2015, I can’t immediately allay all fears of a continued spike in gas prices, however, we’re likely in the closing innings of the seasonal rise- let’s just hope we don’t go to extra innings. In the past few years, the average date that gas prices have peaked is mid-May, which is just around the corner, and by all metrics, that could be very close to what we expect this time around. Refinery maintenance has gone well thus far, and gasoline supply has continued to push higher as more refiners conclude their work. With the transition to summer gasoline also wrapping up, the reasons gas prices to rise will shrink.”

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