Experts are saying drivers can thank the struggling national economy for low gasoline prices, both nationally and close to home on the North Olympic Peninsula.
The price of a gallon of regular unleaded gasoline varied across the Peninsula this weekend from $1.95 in Chimacum to $2.60 in Clallam Bay, with the price at many stations hovering around the $2 mark.
That’s a big change from last summer, when gasoline could cost more than $4 per gallon.
“Just this summer we were selling it at $4.52 a gallon,” said Bernie Lundgren, who lowered the price to $1.99 per gallon at his station on Four Corners Road and Highway 20 south of Port Townsend on Wednesday.
“I don’t know where the bottom is, but we’ve got to be getting close.”
It’s the economy, said Dave Overstreet, spokesman for Washington AAA.
“The number one issue right now is the economy and the recession. Because of that, the supply and demand equation is driving price down.”
Simply put, people are driving less because they have less money than they once did, Overstreet said.
“It was really high just about four months ago,” he said. “Then the economy turned.
“It’s amazing what we see here. Gas inventories are up and demand for the gas is down.”
According to AAA numbers on Sunday, the average national price for a gallon of unleaded gasoline was $1.92, compared to the price one year ago: $3.08.
In the state of Washington, the average price for a gallon of regular unleaded was $2.09 on Sunday. A year ago, it was $3.25 per gallon.
“The trends you’re seeing are gas prices dropping significantly across the board,” Overstreet said.
“It’s been four years since we’ve seen an average price for unleaded gasoline this low.”
Washington AAA doesn’t collect data on every region and county, but according to its numbers, Seattle had the highest prices on Sunday with $2.15 per gallon, and Spokane the lowest with $1.87 per gallon in the Spokane area, while washingtongasprices.com listed the lowest as $1.72 per gallon on Selstice Way off Interstate 90 on the state line with Idaho.
Peninsula prices
Average prices on the North Olympic Peninsula, calculated from prices collected by motortrend.com on Friday, were $2.23 per gallon in Clallam County and $2.18 per gallon in Jefferson County.
The lowest price listed in the Peninsula, according to washingtongasprices.com, was in Chimacum, where the Chevron station at 9072 Beaver Road and Chimacum Road was selling a gallon of regular unleaded for $1.95 on Saturday.
The lowest price in Port Townsend, as of Saturday, was only slightly more, with regular unleaded going for $1.99 per gallon at the Shell stations at West Sims Way and Hendricks St., and at state Highway 20 and Four Corners Road on Saturday, according to washingtongasprices.com.
Prices were highest in the West End, with motortrend.com listing the lowest price in Clallam Bay on Sunday as $2.60 per gallon of regular unleaded, the lowest in Joyce as $2.45 per gallon, and the lowest in Forks as $2.29.
According to washingtogasprices.com:
•âÇThe lowest price in Sequim, as of Sunday, was $2.06 per gallon of regular unleaded at the Costco on West Washington St. Customers must have paid annual membership fees.
Running a close second, with $2.09 per gallon, were Chevron, OFC, Shell and QFC on East Washington Street, as well as Safeway on West Washington St.
•âÇThe lowest price in Port Angeles on Friday was $2.15 at the Arco at Eighth and Lincoln streets, with Safeway, at Third and Lincoln, running a close second with $2.17 per gallon gasoline on Saturday.
Lundgren said he lowered his price because of the Chimacum Chevron.
“We’re trying to compete with them,” Lundgren said.
“We probably can’t, but we’re giving it a try.”
In response to the Shell station’s price drop, the Chimacum Chevron lowered theirs on Friday to the present $1.95 per gallon.
Lundgren said he realized that the prices were being affected slightly by the “gas war” in the county, but also noted that he was buying gas cheaper than he had in years.
AAA’s Overstreet said there was a possibility that prices could continue to drop.
Two weeks ago, the state average price was $2.42 per gallon. Two months ago, the state average was $3.55 a gallon.
“All the trends are downward,” Overstreet said, “And it’s good news for motorists.”
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Reporter Erik Hidle can be reached at 360-385-2335 or at erik.hidle@peninsuladailynews.com.
