SPOKANE, Wash. -We're no strangers to high gas prices in Washington, but this summer is expected to be particularly bad.
Crude oil prices are at the highest level in three years and it's not expected to get better any time soon.
The average price for regular gas in the U.S. is about $2.81. Here in the Spokane area, we know we're hovering around the $3/gal. price, with prices on the west side of the state even higher.
Last year at this time, the average price of a gallon of gas in the country was about $2.38/gallon.
With global economic growth, the demand for oil has increased, while at the same time, production cutbacks initiated by OPEC last year have decreased supply. The summer driving season in the United States typically runs from April through September, and supplies are already running lower than last year by about 1.1 million barrels, according to the U.S. Energy Information Administration.
This year, the EIA expects the average U.S. household to spend nearly $200 more on fuel than 2017.
While the numbers are higher, Tom Kloza, global head of energy analysis for Oil Price Information Service told the AP he doesn’t think we’re going to see “apocalyptic numbers” at the pump, but that”this will be the most expensive driving season since 2014.”
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