Gas Prices Continue An Upward Trend into Summer
Many people in the Yakima Valley and across the nation are noticing climbing gas prices under the Biden administration and watching gas bills grow. According to GasBuddy's daily survey of 91 stations in Yakima Yakima gas prices are up 3.4 cents per gallon in the past week selling for an average of $3.18 per gallon. GasBuddy says prices are almost 38 cents per gallon higher than a month ago and prices are 38 cents per gallon higher than a year ago. A press release from GasBuddy says the national average price of gasoline has fallen 0.3 cents per gallon in the last week, averaging $2.86/g today. The national average is up 22.2 cents per gallon from a month ago and stands 78.2 cents per gallon higher than a year ago.
Patrick De Haan, head of petroleum analysis for GasBuddy says
"With oil prices finally sagging over the last week on inflation fears and worries about a surge in COVID-19 cases in Europe impacting oil demand, motorists filling their tanks may soon see a brief respite from rising gas prices," De Haan adds "While gasoline demand last week rose to its highest level since the pandemic began, concerns that oil demand growth will stall with COVID-19 cases surging in Europe are eroding oil's recent rise. While gas prices still rose in a majority of states last week, we may see some price decreases in the week or weeks ahead, even as U.S. gasoline demand continues to rally to the highest level since the pandemic started nearly a year ago. It'll be a bumpy road the next few weeks as markets sort out the bearish and bullish factors, but I still believe prices will likely experience more upward momentum ahead of Memorial Day."
Last year at this time the U.S. average price of gas was $2.08 per gallon.
Where are you finding the cheapest gas? How are you saving money on your gas bill? Many people are beginning to think about these things as more people are being impacted by growing gas prices.