Gas prices in Spokane rose about 3 cents a gallon in the days following attacks on two Saudi oil refineries, according to data from GasBuddy.com.
The drone attacks on Saturday knocked out more than 5% of the world’s supply of crude oil, cutting output by about 5.7 million barrels per day, and analysts say the disruption could send pump prices skyrocketing.
AAA predicted prices could rise as much as 25 cents per gallon by month’s end, and some parts of the United States already have noticed small increases.
The price of crude oil spiked from $5 to $61 per barrel but was trading lower Tuesday amid reports that Saudi Arabia restored half the production that had been lost from the attacks.
Washington already has some of the highest gas prices in the country, with a statewide average of $3.19 per gallon, according to AAA. Only California and Hawaii have higher prices on average – about $3.65 per gallon.
Data from GasBuddy.com show the average price of a gallon in Spokane jumped from less than $2.75 to more than $2.77 – still a couple of cents lower than a month ago. In Seattle, prices dipped and rose again to $3.32 on Tuesday, according to GasBuddy.com.
The attacks were claimed by Houthi rebels in Yemen, where a Saudi-led coalition has been at war with them since 2015, though Saudi and U.S. officials have pointed blame at Iran, allegations that Tehran has denied.
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