Drivers in Washington are paying some of the highest gas prices in the U.S. Right now, averages sit around $5.36 statewide and roughly $5.59 in the Seattle area, compared with about $4 nationally, according to AAA. And with global events layered on top of Washington’s already elevated costs (driven in part by policies like the state’s gas tax and cap-and-invest carbon program) prices could climb even further.
Some experts warn that oil prices, which directly influence what you pay at the pump, could spike if the Strait of Hormuz stays closed. If it reopens within the next couple of weeks, prices might level off slightly above current levels, Ryan Cummings, chief of staff at the Stanford Institute of Economic Policy Research, told Axios. However, if the closure drags on—say it’s still shut by the end of May—then “all bets are off,” Cummings said, with the possibility of gas reaching $10 a gallon at some of Seattle’s priciest stations this spring.
Even so, there’s no immediate reason to panic. Some stations around Seattle are still charging less than the current $5.59 average (and prices are as low as $4.79 in the Tacoma area—worth noting if you’re nearby). For some drivers, going out of the way to find slightly cheaper prices can be worth it…