Gas prices locally remain above national average

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Average retail gasoline prices in Tacoma rose 0.9 cents per gallon last week, averaging $2.90 per gallon, according to GasBuddy’s daily survey of 271 gas outlets in Tacoma. This compares with the national average of $2.53 that did not change, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Tacoma during the week, prices were 16.4 cents per gallon higher than the same day one year ago and were 0.8 cents per gallon lower than a month ago. The national average has increased 8.8 cents per gallon during the last month and stands 22.7 cents per gallon higher than this day one year ago.

“After several weeks of rising gasoline prices, it appears that perhaps the tide has turned and the bigger increases have started to fade,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices remain near multi-year highs but do show some signs of buckling at least slightly, but for motorists, we have not and may not see sizable relief just yet. Great Lakes refinery issues continue to flare up with no warning, and gas prices there may continue to be more volatile in coming weeks. Meanwhile, total U.S. oil inventories stand 127 million barrels lower than a year ago, which has led gas prices to these seasonally high levels. What continues to impress is the large spread in prices between stations nearby, even as gas prices remain somewhat low, unsuspecting motorists have seen price differences of 10 to as much as 50 cents per gallon between neighboring stations in some large cities.”

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