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Gas Prices: How Has the Global Fuel Demand Affected Local Prices This Week?

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U.S. crude futures fell on Tuesday, March 29, extending losses of nearly 7% on Monday. Fears of a drop in fuel demand after Shanghai’s COVID-19–related lockdown of roughly 26 million people have contributed to falling prices, along with peace talks between Ukraine and Russia.

On Thursday, March 31, members of the Organization of the Petroleum Exporting Countries and allies will meet to discuss a planned production increase of 432,000 barrels per day. The group is expected to modestly increase oil production beginning in May, despite a call for even greater output. The global market will be paying close attention to any positive headlines coming out of the meeting that may signal supply relief, but experts say it is unlikely.

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Earlier this month, oil prices plummeted when the United Arab Emirates’ ambassador to Washington said the country, an OPEC member, wanted to increase oil production.

Stacker compiled statistics on gas prices in Washington using data from AAA. Gas prices are as of March 29. State gas tax data is from World Population Review. Three states, Connecticut, Georgia, and Maryland, have temporarily suspended gas taxes to help consumers while the cost of gas has increased.

You Might Also Like: Legislators Discuss Proposed State Fuel Tax Reforms

Fuel for Thought

Washington by the numbers
– Current price: $4.74
– Week change: +$0.01 (+0.3%)
– Year change: +$1.41 (+42.5%)
– Gas tax: $0.52 per gallon (#3 highest among all states)
– Historical expensive gas price: $4.74 (3/15/22)

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Gas Prices in Auburn, WA
As of 3/30/2022 at 12:00 p.m.

Marathon 520 E Main St $ 4.55 cash
Walmart 762 Outlet Collection Dr $4.59
ARCO & ampm 3648 Auburn Wy N $ 4.63 cash
ARCO 305 S At SE  $ 4.63 cash
Fred Meyer 801 Auburn Wy N $ 4.69
Safeway 101 Auburn Way S $ 4.69
Chevron 1692 Lake Tapps Pkwy E $ 4.71 cash
76 1725 Auburn Wy N $ 4.55
7-Eleven 1539 21st St SE $ 4.79
76 & 7-Eleven 1602 A St SE $ 4.79

Gas Prices in Pacific, WA
As of 3/30/2022 at 12:00 p.m.

ARCO & ampm 401 Ellingson Rd $4.59 cash
Chevron 174 Stewart Rd SW $4.79 cash
7-Eleven 415 Milwaukee Blvd N $4.79
Shell 1151 Valentine Ave SE $4.79 cash
76 406 Ellingson Rd $4.99 cash

 

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Metros with most expensive gas in Washington
#14. Clarkson: $4.18
#13. Spokane: $4.34
#12. Richland-Kennewick-Pasco: $4.47
#11. Walla Walla: $4.61
#10. Yakima: $4.61
#9. Wenatchee: $4.64
#8. Mount Vernon-Anacortes: $4.65
#7. Bellingham: $4.69
#6. Bremerton: $4.74
#5. Olympia: $4.79
#4. Vancouver: $4.80
#3. Tacoma: $4.80
#2. Longview: $4.83
#1. Seattle-Bellevue-Everett: $4.90

States with the most expensive gas
#1. California: $5.92
#2. Nevada: $5.25
#3. Hawaii: $5.15

States with the least expensive gas
#1. Missouri: $3.79
#2. Kansas: $3.80
#3. Oklahoma: $3.81

States with the highest gas tax per gallon
#1. Pennsylvania: $0.59
#2. California: $0.53
#3. Washington: $0.52

States with the lowest gas tax per gallon
#1. Alaska: $0.0895
#2. Hawaii: $0.16
#3. Virginia: $0.162


The above article originally appeared on Stacker and has been republished with permission. The Auburn Examiner has not independently verified content provided by Stacker or GasBuddy.

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