Gas Prices Remain High Despite Plummeting Oil Prices
FOR IMMEDIATE RELEASESeptember 8, 2015
ANCHORAGE – Rep. Scott Kawasaki (D-Fairbanks) is asking Alaska Governor Bill Walker to begin an investigation into the retail price of fuel in Alaska. In a letter sent to the Governor on Friday, Rep. Kawasaki asked the Governor to find out why price reductions in Alaska are trailing price reductions nationwide.
“Alaska’s high cost of living is only exasperated by the high cost of gasoline, diesel and heating fuel,” said Rep. Kawasaki. “Alaskans deserve a clear answer to why such an oil rich state has the highest gas prices in the country. The high cost of energy is putting a damper on our economy just when we need to give it some air.”
Rep. Kawasaki represents one of the most heating fuel dependent regions in Alaska and he’s a prime sponsor of House Bill 37, which seeks to deter price gouging for gasoline and heating fuel.
In Friday’s letter, Rep. Kawasaki notes that in 2007 when oil was priced at $78 dollars a barrel the price of gasoline was just $2.40 a gallon. However, today oil prices are hovering below $50 dollars a barrel but gasoline is still priced well over $3.30 a gallon.
“It curious that when oil prices go up the price for gas also goes up but when oil prices fall we don’t see that same decrease in gas prices,” said Rep. Kawasaki. “Gas prices that do not reflect the trends seen in the lower 48 states are intolerable for Alaskan consumers and deserves a thorough investigation.”
Rep. Kawasaki is asking the administration of Governor Walker to prepare a report and recommendations for the Alaska Legislature as soon as practicable on the gas price issue.