We’re moving into August with even lower gas prices than last week.
Average retail prices in Tacoma have dropped nearly 4 cents a gallon in one week, according to GasBuddy.com. This is more than the national average, which dropped just 2 cents a gallon in the same time frame.
Area prices on average are about 55 cents less than this time a year ago and about a nickel less than in July, GasBuddy reported in its Monday news release.
“As prices continue to fall in the heart of summer, motorists have been able to take advantage of the cheapest summer prices in over a decade. Demand for gasoline continues to surge as low prices have spurred more road trips and have swayed consumer vehicle purchasing habits,” said Will Speer, senior petroleum analyst with GasBuddy, in Monday’s release.
“High gasoline inventories, which are up 11.8 percent from this time last year, will continue to be a thorn in the side of refiners and a boost for consumers as a seasonal downturn in gasoline demand is on the horizon after Labor Day,” he said.
In Tacoma on Monday afternoon, the average price was $2.61 a gallon, with the lowest price, $2.25 a gallon, reported at Tacoma’s Costco and the Tahoma Express station at 208 Norpoint Way NE, according to tacomagasprices.com. In Olympia, the lowest price Monday was $2.26 a gallon at the APP station at 1312 Fones Road, according to washingtongasprices.com.