Regular unleaded gasoline hits record high in Olympia market

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Gas prices surged to record highs in Olympia and the state of Washington, amid a spike in crude oil costs brought on by ongoing tensions in the Middle East and the closure of a key passageway for tankers in the region.

The average price of regular unleaded gasoline leaped to $5.635 per gallon on Friday, May 1, from $5.456 per gallon on Friday, April 24, according to data compiled by AAA. That broke the previous record of $5.571 per gallon, which was set on June 13, 2022.

The most recent reading also marked the single biggest jump in weekly gas prices in the Olympia market since the United States and Israel launched coordinated military operations against Iran on Feb. 28. 

Despite a ceasefire agreement, tensions between the U.S. and Iran have kept oil tankers from gaining safe passage through the Strait of Hormuz, multiple media outlets have reported. That has also impacted the per barrel price of oil.

The Strait of Hormuz, which is a crucial passageway for oil shipments, connects the Persian Gulf with Arabian Sea and is bordered by Iran to the north and Oman to the south.

“The national average is $1.12 higher than it was this time last year, as oil prices (surged) above $100 (per barrel) with no indication of when the Strait of Hormuz will reopen,” said AAA in its weekly gas prices report. “Gas prices are the highest they’ve been in four years, since late July 2022.”

The price at the pump is among the most expensive in the country for motorists in Washington, which had the third highest average for regular unleaded gas this week.

The average price for regular unleaded gas clocked in at $5.610 per gallon on Friday, May 1, up from $5.409 per gallon on Friday, April 24. A year ago, the average stood at $4.269 per gallon.

California continued to hold the dubious distinction as the priciest market in the country as it crossed over the $6 mark at $6.060 per gallon on Friday, May 1, up from $5.884 per gallon a week ago. Hawaii ranked second at $5.638 per gallon on Friday, May 1, down from $5.649 one week earlier.

In the state of Washington, the highest average price for regular unleaded gas was posted in the Seattle-Bellevue-Everett market at a record $5.806 per gallon on Friday, May 1, up from $5.637 per gallon a week ago.

The lowest average price for regular unleaded gas was recorded in the Clarkson market at $4.922 per gallon on Friday, May 1, up from $4.599 per gallon one week earlier.

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  • bhalverson

    Gas prices in WA State are much higher than the national average due to the Climate Commitment Act that costs every one $1.29 a gallon in tax at the pump. WA State has the highest gas tax in the nation and thanks to our legislature affordability in WA State just got a lot worse. Instead of pulling back on taxes to help our citizens our legislature doubled down and increased everything they could. In the last ten years our state budget has ballooned from $79 billion a year to $157 billion a year - a nearly 100% increase. Have you looked at your vehicle tabs lately. Our State is charging everything A la carte. The breakdown of charges is getting longer every year. Every tax they can add they do - If you wanted to decrease your gas consumption by buying a hybrid or EV you get a large tax every year when you renew because you wanted to help the environment by buying a vehicle that uses less gas. Way to go legislature - keep on plugging away - you are driving people out of our state and your only alternative will be to increase taxes on those of us that are left.

    Friday, May 1 Report this

  • Boatyarddog

    How about quit your complaining and just curb your driving?I think everyone could do that, and we wouldn't have to use so much fuel. We could boycott those oil companies.

    Friday, May 1 Report this

  • chrispc2u

    You’re welcome, Trump voters. Whatever he’s promised you he’s done exactly the opposite including no new wars. So enjoy driving those empty haulin’ ‘merkin flag waving gas guzzling pick up trucks at these prices!

    Friday, May 1 Report this

  • CobraCommander

    Lovely how the Trump Cultists refuse to admit how badly he is destroying the economy and starting new forever wars yet choose, yes choose, to focus on anything else to justify the unconstitutional actions of Dear Leader.

    This is caused by your votes.

    Be proud!

    Saturday, May 2 Report this

  • Southsoundguy

    Love how the TDS people love to blame everything on Trump. They are obsessed with him.

    Monday, May 4 Report this

  • LauratheBruce

    The raping of America...

    Monday, May 4 Report this

  • Mugwump

    MAGA did that.

    Tuesday, May 5 Report this