Gas Price Predictions For Washington This Summer

J.R. Heimbigner

Gas prices were already expected to rise, but now with invasion of Russia into Ukraine, the price of oil is going up which is driving up the price of gas. The national average for a gallon of gas has risen to $3.57, four cents more than a week ago. (source)

At time of publication, the average in Washington state is $3.99. Since gas is already hovering near the $4 a gallon mark in Washington, even $5 a gallon is possible over the next few months.

It is safe to assume that the costs will not be dropping in price quite for a while. In total, the average U.S. household is estimated to spend $2,341 next year on gas, which can be compared to $1,977 in 2021. Not surprisingly, in 2020 the average spent was only 1,294 dollars on gas. On a yearly basis, a total of $484.4 billion will be spent on gasoline in the United States, up $76 billion from the $408.4 billion spent in 2021. The increase in total gasoline spend comes due to oil production slowly rising against a sharp increase in global demand as vaccines have allowed some measure of life to return, leading to an imbalance and pushing oil prices higher, according to GasBuddy.

What can you do about this? First, you can plan your trips. Second, make sure your vehicle has been serviced and is running efficiently. Another great idea is to join a fuel perks program wherever you purchase fuel.

How much do you think gas will be this summer in Washington?

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