SPOKANE COUNTY, Wash. — Gas prices have fallen 5.4 cents per gallon in the last week nationwide, according to a recent survey from Gas Buddy. According to a GasBuddy study, gasoline prices in Spokane have decreased by 2.9 cents per gallon compared to last week.
In Spokane, the average gas price is $4.28 per gallon, 2.9 cents less than last week, and 33.3 cents higher than a month ago. GasBuddy said the cheapest station in Spokane reported that the gas price was $4.09 per gallon on Sunday, while the most expensive was $4.59.
GasBuddy Head of Petroleum Analysis Patrick De Haan said in the report that oil prices dropped due to the recent rise in COVID-19 cases in China. Prices also decreased after President Biden's announced that the United States would be releasing over 1 million barrels of oil from the Strategic Petroleum Reserve to help lower gas prices in the U.S.
"So long as oil prices remain under $100 per barrel and there's no escalations in Russia's war on Ukraine, we may be poised to see gas prices decline again this week as the U.S. and other countries try to raise oil supply to tip prices lower," De Haan said.
Across the state, the regular gas price decreased by 1.8 cents, according to GasBuddy. As of Monday, April 4, the average gas price across Washington is $4.70, compared to last's week $4.71.
Current gas prices in neighboring areas:
Idaho: $4.41 per gallon, down 0.5 cents per gallon from last week's $4.41.
Yakima: $4.58 per gallon, down 4.5 cents compared to last week's $4.62.
GasBuddy data is compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.