If rising gasoline prices leave you fuming and wondering why, the answer is a little more complex than the old supply-and-demand theory.
That’s only part of the petroleum picture, say those close to the industry.
North Olympic Peninsula pump prices crashed through the $2-a-gallon barrier this week in Port Angeles and Carlsborg.
Other locations, such as Forks and south Jefferson County, topped $2 for all grades last month.
“We have gotten into somewhat uncharted territory with our gas price increases,” said Janet Ray, spokeswoman for the American Automobile Association’s Washington/Inland Club, based in Bellevue.
Ray said increased demand with the summer months approaching is not the only reason for gas prices climbing.
“We know of a bit of an increase in demand. The Energy Department is reporting between 2 and 4 percent,” Ray said.
And crude oil prices are high, but no higher than during the Iraq War a year ago, she said.
“Everything else is leaving us in a quandary as to why prices are going up,” said Ray.
“In the state of Washington, it appears to be at a point where demand now is only part of the equation.”
More than $2 widespread
AAA’s price survey Wednesday for 12 Western Washington cities showed the average price from Bellingham to Yakima to be just over $2 for regular unleaded.
Updates of those prices can be found at AAA’s Web site, fuelgaugereport.com.
