Attorney General releases final gas price investigation report
SEATTLE -- Attorney General Rob McKenna today released the final results from the state’s year-long investigation into gas prices. The investigation, which included an in-depth analysis of factors influencing prices at the pump, found variations across Washington communities are due to the cost of obtaining and transporting fuel to stations and local competition – not illegal price manipulation. Increasing worldwide demand for oil and an inability for regional refineries to meet local supply demands are the primary contributors to erratically climbing prices, experts added.
“West Coast refineries are running at capacity,” McKenna said. “We’re importing higher-priced refined gasoline to meet consumer demand, which raises average prices at the pump. Any glitches in the supply system can cause significant price spikes. Meanwhile, crude oil costs nearly four times as much as it did five years ago.”
Results from the investigation are included in a 67-page report available here.