Four states out of 50 has higher gas prices than Washington: Oregon, Nevada, Hawaii and California. Cali is currently paying the most with an average $5.34 per gallon. The average gas price in Washington hit $4.449 per gallon this week. This is the highest it has ever been.
Some experts say that the war in Ukraine as the main reason why gas prices have risen so drastically. The conflict has caused the price of crude oil to skyrocket. Oil jumped to $139 a barrel at one point. This is the highest level for almost 14 years.
Wholesale gas prices for next-day delivery has more than doubled. It came as the U.S. stated that it may place a ban on buying Russian energy. It urged other countries to increase oil supplies. European leaders outright rejected that idea this week.
The International Energy Agency, a group of 31 countries that includes the U.S., said last week it would be releasing more than 60 million barrels of oil from its strategic reserves to combat the rising gas prices. This record release is the largest amount released at one time since it was founded in 1974.
Monday’s average gas price beat the record set in 2008 by nearly 10 cents, according to AAA. Prices are likely continue to increase for some time to come. In just one week, the average Washington gas price has soared more than 40 cents and is currently well above the national average of $4.065 per gallon.
The highest prices are being seen in the western part of Washington. King County is experiencing the highest prices with an average of $4.662 per gallon. Eastern Washington are around the national average with a handful of counties still seeing prices below $4 a gallon – including Asotin, Garfield and Ferry counties.
