Peninsula Daily News and The Associated Press
The price of a gallon of regular unleaded gas appeared to level off on the North Olympic Peninsula in the past week after soaring to the $4 level at several Peninsula stations the week before.
The average Peninsula price, based on an informal Peninsula Daily News survey, is $3.96. The prices fluctuate from $3.879 in East Jefferson County to $3.999 in eastern Port Angeles. Some prices above $4 are reported on the West End, which characteristically is higher because of the longer transportation need.
The AAA auto club reports the average price of a gallon of gasoline in Washington state is $3.92.
That’s 9 cents higher than the national average and up 4 cents in a week and 23 cents in a month.
Some prices for cities from the AAA’s survey issued this morning:
Bellingham $4.02, Bremerton $3.96, Seattle-Bellevue-Everett $3.94, Olympia $3.96, Tacoma $3.93, Vancouver $3.85, Yakima $3.89, Tri-Cities $3.89 and Spokane $3.79.
Sens. Patty Murray and Maria Cantwell called a news conference today in Seattle to talk about the impact of high gas prices on families and businesses.
Cantwell has been asking federal regulators to prevent excessive speculation and market manipulation of fuel prices.
On Sunday, New York became the sixth state to top $4 a gallon for the average price of gasoline, joining Alaska, California, Connecticut, Hawaii and Illinois, according to AAA’s Daily Fuel Gauge. Gasoline in Washington, D.C, also averaged above $4.
The national average for gasoline has increased for 26 straight days, and is now at $3.83 per gallon, up 29 cents from a month ago.
Some analysts expect rising global fuel costs will eventually hurt crude consumption and likely trigger a drop in oil prices, which are up 29 percent since mid-February. Crude jumped to $147 in 2008 and gasoline averaged as high as $4.11 a gallon before the U.S. economy plunged into recession in 2009.
“Springtime gasoline in the U.S. has never cost more,” energy consultant The Schork Group said. “Automotive diesel in the U.K. is at an all-time high and the price on the continent is fast approaching levels not seen since the 2008 bubble.”
However, energy department figures last week showed a large gasoline supply drop, suggesting higher prices still haven’t curbed consumer spending. Traders will be closely watching the latest inventory data scheduled to be released Wednesday.
