Gas prices drop

0

Gasoline prices in Tacoma have fallen 6.5 cents per gallon in the past week, averaging $3.46 per gallon, according to GasBuddy’s daily survey of 271 stations in Tacoma. This compares with the national average that has fallen 7.0 cents per gallon versus last week to $2.73 per gallon.

Including the change locally during the past week, prices were 53.7 cents per gallon higher than a year ago and are 5.3 cents per gallon higher than a month ago. The national average has dropped 17.7 cents per gallon during the last month and stands 20.9 cents per gallon higher than a year ago.

“Motorists have just enjoyed the largest one week decline in average gas prices in 2018, with the national average falling to its lowest level since April,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil markets have been weak as refinery maintenance season has slowed down crude oil inputs, leading to oil inventories that have risen noticeably. In addition, jitters over the economy and stock market have helped to push values down. But beware- any politician taking credit ahead of the elections is absolutely pulling your leg. We should see prices move lower yet again- but this behavior is par for the course every autumn. In addition, sanctions on Iran were reimposed yesterday, but while some countries that import oil from Iran have waivers, those waivers may be temporary- so the drop at the pump may not continue indefinitely.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here