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Anchorage Weekly Fuel Update and Outlook Dec. 19, 2016

Up 2.7 cents per gallon


Anchorage, AK, December 19- Average retail gasoline prices in Anchorage have risen 2.7 cents per gallon in the past week, averaging $2.48/g yesterday, according to GasBuddy's daily survey of 86 gas outlets in Anchorage. This compares with the national average that has increased 3.1 cents per gallon in the last week to $2.24/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Anchorage during the past week, prices yesterday were 22.6 cents per gallon higher than the same day one year ago and are 0.7 cents per gallon higher than a month ago. The national average has increased 10.2 cents per gallon during the last month and stands 24.5 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on December 19 in Anchorage have ranged widely over the last five years:
$2.25/g in 2015, $3.13/g in 2014, $3.54/g in 2013, $3.50/g in 2012 and $3.81/g in 2011.

Areas near Anchorage and their current gas price climate:
Tacoma- $2.57/g, down 1 cent per gallon from last week's $2.58/g.
Alaska- $2.58/g, up 2.9 cents per gallon from last week's $2.55/g.
Seattle- $2.65/g, down 1.3 cents per gallon from last week's $2.66/g.

“With West Texas Intermediate crude oil holding over $50 per barrel for the last several weeks, gasoline prices have moved higher in a majority of the country,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Some 39 states saw average gasoline prices rise last week, and this week may see a similar fate at the pump as retail gasoline prices continue to play a game of catch up to the three week rally in oil prices."

"Meanwhile, it was just a year ago when the national average gas price fell under $2 per gallon for the first time since 2009, a feat unlikely to be repeated anytime soon, thanks to November's crude oil production cuts from OPEC, joined by production cuts from non-OPEC countries shortly thereafter. In fact, we're on par to see the largest December increase in gasoline prices nationally since 2010 due to the uptick in oil prices. However, those looking for respite from rising gas prices will be happy to know that prices will likely fall, at least temporarily, starting in mid-January through Valentine's Day as refiners begin discounting excess inventories of winter-grade fuel," DeHaan added.

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.

About GasBuddy.com
GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.


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