Gas prices continue to fall

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Gasoline prices in Tacoma have fallen 1.7 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 1.4 cents per gallon versus last week to $2.82 per gallon, according to GasBuddy.

Including the change locally during the past week, prices were 32.1 cents per gallon higher than a year ago and are 4.2 cents per gallon lower than a month ago. The national average has dropped 4.4 cents per gallon during the last month and stands 18.3 cents per gallon higher than a year ago.

“We’ve closed the door on the most expensive summer at the pump since 2014, finishing the period from Memorial Day to Labor Day with an average of $2.87 per gallon, a full 55 cents higher than last summer, but still 71 cents per gallon cheaper than 2014. Much of the blame for the summer’s higher gas prices can be blamed on OPEC’s long-term decision to cut oil production to better balance supply and demand, pushing prices higher,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Now that summer is over, gas prices are likely to seasonally decline by the end of the year, but with Tropical Storm Gordon likely to impact the sensitive Gulf Coast region, gas prices may move higher before we see the seasonal down trend emerge. We’re carefully watching the storm for possible disruptions to refineries and gas stations, and will continue to do so until hurricane season ends. Motorists in affected regions can download the GasBuddy app as we’ll continue to work around the clock updating motorists, helping them escape major events like this one.”

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