Gas prices hit four-year low in Spokane, but the price dip may not last long

SPOKANE Wash.– Gas prices are down nearly six cents per gallon across Washington this week.

In Spokane, prices are even lower than the state average.

It’s the lowest gas prices the city has seen since 2022, but it might not be for the reason you think.

Some believe the situation in Venezuela could be affecting the global oil market and causing prices to fall.

But GasBuddy said it could take years for that to meaningfully affect gas prices in the U.S.

It said the decrease in price is likely a product of weaker global demand and switching to winter blend gas.

One local gas station said its process for setting the price of gas has much more to do with what the local prices are.

Towns Liquor Mart Owner Avtar Brar said, “we always look on the same street in the neighborhood and then our total sales, if we’re losing gallons and then we look around and see why.”

Brar said the profit margin on gas is very small and he hopes the low prices will bring people in the store to buy food and drinks.

Customers this afternoon were enjoying the lower prices, especially those that drive a lot.

“It’s nice, especially because I drive a diesel pickup truck. It’s about $1.50 less than I was paying a few months ago.,” Ernest Henderson said, “I’m about to take an 800-mile trip right now, it’s going to save me a significant amount. That $1.50 per gallon is going to really make an impact on that trip.”

Many of the customers are hopeful it’ll help lower the cost of living overall as well.

But GasBuddy expects gas prices to bottom out in a few weeks, but then increase over the next couple months.