Gas prices up but should be coming back down | GasBuddy

Puget Sound motorists are again paying nearly $3 per gallon for gas and in some areas more.

Puget Sound motorists are again paying nearly $3 per gallon for gas and in some areas more. Its the first time since December 11, 2014.

But before we get too far on the bad news, there’s some good news. It won’t last very long. Over the next few days, increases will revert to decreases as wholesale prices have begun to move downward again.

The primary catalyst for the aggressive price had has been the sharp spike that occurred in wholesale gasoline prices in the last two weeks, triggered by operational glitches at multiple California refineries and work stoppages.  But in the last week, relief has begun to settle into markets. A report on West Coast gasoline inventories earlier this week showed less of a decline in gasoline inventories, which boosted confidence that supply concerns won’t be as bad as thought.

Soon most areas should start seeing relief, and by St. Patrick’s Day gas prices could be 10-15 cents per gallon lower than they stand today.

If you’d like to see Seattle gas price data in real time, visit: http://media.gasbuddy.com/#Home/US/WA/Seattle