Washington state residents are facing steep prices at the gas pump, with the average cost of regular unleaded gas hitting $4.67 per gallon – a 34-cent increase from just a month ago.
This makes Washington’s gas prices the third highest in the nation, according to data from the American Automobile Association.
Several factors contribute to these high prices. One reason is that refineries switch to a more expensive blend of fuel during the spring and summer months. Additionally, the cost of crude oil, a key component of gasoline, has been on the rise.
Forecasts from the U.S. Energy Information Administration suggest that oil prices will continue to climb throughout 2024 and into 2025. This trend is expected to drive up costs for drivers not only in Washington but across the country.
Washington’s cap-and-trade program, established under the Climate Commitment Act, is also impacting gas prices.
This program, passed by the state Legislature in 2021, requires emitters to obtain “emissions allowances” equal to their greenhouse gas emissions. These allowances can be acquired through auctions hosted by the Department of Ecology, bringing in over $2 billion so far.
Critics of the program argue that it contributed to last year’s increase in gas prices by as much as 50 cents per gallon.
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Voters will have the opportunity to weigh in on the program’s future this November through Initiative 2117, which seeks to repeal the Climate Commitment Act and prohibit state agencies from implementing any carbon tax in its place.
In terms of metro area averages, Seattle-Bellevue-Everett has the highest gas prices in the state at $4.83 per gallon, while Clark, located in southeastern Washington, boasts the lowest prices at $4.15 per gallon.
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