Filling The Tank Today? Prices Up Like The Summer Temps

Filling the tank this week? Average gasoline prices in Yakima are up 3.0 cents per gallon in the last week selling for an average of $4.42 per gallon Monday, according to GasBuddy's survey of 91 stations in Yakima.

PRICES IN YAKIMA ARE DOWN WHEN COMPARED TO A YEAR EARLIER

Prices in Yakima are 17.6 cents per gallon higher than a month ago and stand 81.1 cents per gallon lower than a year ago.
The national average price of diesel has fallen 3.4 cents in the last week and stands at $3.88 per gallon.

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YOU KNOW WHERE TO FIND THE CHEAPEST GAS IN THE VALLEY?

According to GasBuddy price reports, the cheapest station was in Wapato on Sunday priced at $3.80 per gallon.
Statewide the average price of a gallon of regular unleaded is selling for $4.71 a gallon.

THE NATIONAL PRICE IS DOWN AGAIN THIS WEEK

The national average price of gasoline has fallen 3.9 cents per gallon in the last week, averaging $3.51 a gallon today. The national average is down 1.7 cents per gallon from a month ago and stands 134.5 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

PRODUCTION CUT COULD MEAN HIGHER PRICES ON THE NATIONAL SIDE

"While the national average drifted lower last week as oil prices cooled off, the drop may be temporary. OPEC+ agreed Sunday to additional production cuts, while Saudi Arabia is going above and beyond and cutting July production. As a result, oil prices are likely to see upward pressure as global supplies, which have remained tight, promise to become even tighter as a result," says Patrick De Haan, head of petroleum analysis at GasBuddy. "Last time OPEC+ agreed to cut production, it led to a temporarily rally in the price of oil, but as global oil demand hasn't been as strong as expected, the cut failed to hold oil prices up."

HIGHER PRICES STICK AROUND LONGER?

"OPEC+ and Saudi Arabia are likely hoping that the rise in oil prices will stick longer this time, as the Saudi economy relies on oil prices north of $81 per barrel. It's likely that as a result of the production cut, oil prices could rally this week, pushing gasoline prices higher as early as mid-week. How long any rise in gas prices lasts is up in the air, but I do not yet believe motorists need to be worried. Any rise in average prices should be fairly small, and we're still extremely unlikely to make a run at record prices anytime soon."

REMEMBER WHEN?

Historical gasoline prices in Yakima and the national average going back ten years:
June 5, 2022: $5.23/g (U.S. Average: $4.85/g)
June 5, 2021: $3.53/g (U.S. Average: $3.05/g)
June 5, 2020: $2.39/g (U.S. Average: $2.01/g)
June 5, 2019: $3.40/g (U.S. Average: $2.78/g)
June 5, 2018: $3.42/g (U.S. Average: $2.94/g)
June 5, 2017: $2.80/g (U.S. Average: $2.37/g)
June 5, 2016: $2.54/g (U.S. Average: $2.36/g)
June 5, 2015: $2.94/g (U.S. Average: $2.76/g)
June 5, 2014: $3.82/g (U.S. Average: $3.66/g)
June 5, 2013: $3.84/g (U.S. Average: $3.62/g)

Neighboring areas and their current gas prices:
Tacoma- $4.57/g, up 2.2 cents per gallon from last week's $4.55/g.
Seattle- $4.74/g, up 0.9 cents per gallon from last week's $4.73/g.
Washington- $4.64/g, up 4.0 cents per gallon from last week's $4.60/g.