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Gas prices rising as crude hits $80 a barrel

Post by John Gillie / The News Tribune on Dec. 31, 2009 at 10:06 am with No Comments »
December 31, 2009 10:06 am

Gas prices in Tacoma jumped nearly five cents a gallon overnight to an average of $2.792 a gallon for regular unleaded as crude oil prices toyed with the $80-a-barrel level.

Though the connection between crude prices and pump prices is complicated and indirect, gas prices have trended upward lately as both crude oil and gasoline inventories fell.

In overnight trading in New York, a barrel of crude oil for February delivery briefly hit $80, but later settled back slightly below that figure. Crude prices are still a long way from the $145-a-barrel they hit in the summer of 2008.

In Tacoma, according to Web site tacomagasprices.com, the average price of regular unleaded toda was $2.792 a gallon. That’s up from $2.744 Wednesday. A week ago, regular unleaded was selling for an average of $2.741 a gallon.

Low price leaders in the area were Costco near the Tacoma Mall, Safeway and Fred Meyer near South 72nd Street and Portland Avenue, all at $2.61 a gallon today.

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