After Months of Falling Prices Gas Sees Increase

Past the halfway point of the month and after months of dropping prices we see a small rise in gas prices. The latest from our friends at Gasbuddy.

"Average retail gasoline prices in Yakima have risen 1.1 cents per gallon in the past week, averaging $1.93/g yesterday, according to GasBuddy's daily survey of 91 gas outlets in Yakima. This compares with the national average that has increased 1.9 cents per gallon in the last week to $1.71/g, according to gasoline price website GasBuddy.com.  Including the change in gas prices in Yakima during the past week, prices yesterday were 28.1 cents per gallon lower than the same day one year ago and are 24.0 cents per gallon lower than a month ago. The national average has decreased 13.1 cents per gallon during the last month and stands 58.4 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on February 22 in Yakima have ranged widely over the last five years:

$2.21/g in 2015, $3.30/g in 2014, $3.50/g in 2013, $3.54/g in 2012 and $3.28/g in 2011.

Areas nearby Yakima and their current gas price climate:

Tacoma- $2.03/g, down 1.4 cents per gallon from last week's $2.05/g.

Seattle- $2.11/g, down 3.9 cents per gallon from last week's $2.15/g.

Washington- $2.02/g, down 1.4 cents per gallon from last week's $2.03/g.

“Many motorists in the Midwest saw an ugly surprise at the gas pumps last week, as prices spiked as high as 23 cents per gallon in one week’s time in places," said Will Speer, a GasBuddy senior petroleum analyst. "The spike occurred on the back of news that Midwest refineries were reducing production rates due to poor economics. The rest of the U.S. enjoyed another week of declining gas prices. The largest decline in retail gas prices occurred in Southern California, as the wholesale gasoline price fell to the cheapest in the country. Expect West Coast motorists to reap the benefits of these low wholesale prices at the pump in the upcoming week," he added."