Average gas prices top $4 in Bellingham. Will it keep going up?
As global oil markets remain volatile and refineries make the switch to summer blends, gas prices in Whatcom County hit a new milestone.
The average price for a gallon of gas in the Bellingham metro area (Whatcom County) was nearly $4.02 on Wednesday, March 2, according to data from AAA Washington. It’s the first time the average price of gas topped $4 a gallon locally since 2014.
The current price is significantly higher than a year ago, when Whatcom County averaged $3.11 a gallon. The record average recorded by AAA for this area was $4.50 in June 2008.
After Russia invaded Ukraine on Thursday, Feb. 24, GasBuddy analyst Patrick DeHaan predicted gas prices across the U.S. would rise around 15-20 cents a gallon. At the time, the average price in Whatcom County was $3.93 a gallon.
The first quarter is traditionally a time when the U.S. oil refineries switch to a less polluting summer blend, which can temporarily hamper supply and raise prices. Tighter global supplies and inflation are also factors. If global events stabilize, prices tend to go down in the second half of the year as demand declines and more supply becomes available.
Gas prices are also setting records in the metro Vancouver, B.C., area, according to CTV News. Gas prices were reported at $1.87 a liter, which converts to about $5.57 a U.S. gallon.
