OLYMPIA, Wash. -- Washington Attorney General Rob McKenna and economist Keith Leffler will gather public comments and discuss results from the first phase of the state's ongoing investigation into gasoline prices at three stops on the what they are calling the "Gas Gauge Tour."
Whatcom County executive Pete Kremen and State Representative Doug Ericksen (R), will join McKenna, Leffler and staff from the AG's Office and the state Department of Community, Trade & Economic Development (CTED).
Members of the public are being invited to learn about factors influencing gasoline prices [image-nocss] in Washington state and their communities. They will have an opportunity to ask questions and provide information they believe may be relevant to the state's investigation.
The last such comprehensive study into Washington gas prices was published in July 1991 by the state Energy Office (now CTED's Energy Policy Division).
The AG's Office released a report detailing findings from the first phase of the gas prices investigation in August. Key findings from Phase I included:
Retail gas prices in the 1991 study tended to be lower in the Seattle area than in eastern Washington. This trend has reversed, with Bellevue and Bellingham reporting the highest average retail prices in recent years. Crude oil costs increased by more than 76 cents per gallon from December 2003 to May 2007; these costs made up about 50% of the cost of a gallon of gasoline in July 2007. Refinery margins increased by nearly 94 cents per gallon from December 2003 to May 2007, making up approximately 22% of the price of a gallon of gasoline in July 2007. The current total gasoline tax in Washington is about 54.4 cents per gallon—the highest total gasoline tax in the nation—in part because Washington relies on its for most of its highway funding.The AG's Office is overseeing the investigation with assistance from CTEDt. To assist with the research, state agencies retained Dr. Leffler, an economist at the University of Washington with expertise on the state's petroleum industry.
The final report is expected to be released near the end of February and will include additional analysis related to differences in the wholesale cost of gasoline from various supply sources, transportation costs, retailing costs and diesel prices. It will also address anomalies in the data.
Click hereto view the report and other information.
People unable to attend the forums may submit comments via e-mail to gasprices@atg.wa.gov.
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