‘Long, hot, expensive summer at the pump’: Jake and Spike break down WA’s soaring gas prices

While conflicts between the U.S. and Iran continue, gas prices haven’t let up in their dramatic upward surge, while the price of crude oil has breached the $100 mark once again.

Jake Skorheim and Spike O’Neill, co-hosts of “The Jake and Spike Show” on KIRO Newsradio, recapped some of the major factors contributing to the escalating gas prices, and why it’s forecasted to be a “hot, expensive summer at the pump” in Seattle.

“Houthi rebels are an Iranian-sponsored militia faction, or a terrorist group. No other word for them,” Spike said. “So, when the Strait of Hormuz was reclosed a week ago because of an escalation between the U.S. and Iran, and the Memorandum of Understanding was basically shredded, Saudi Arabia, one of the world’s leading oil producers, started moving their oil through a pipeline to the Red Sea and then through the Bab al Mandib Strait.

“Houthi rebels closed off that pathway for oil shipping,” he continued. “They attacked Saudi tankers, now forcing the oil markets to lose two major shipping avenues for 20% of the world’s oil production and transportation. I say that to say this: oil’s over $100 a barrel again, and the escalation between the U.S. and Iran doesn’t seem to be decelerating anytime soon. You’re going to begin a long, heavy, hot, expensive summer at the pump unless changes are made.”

WA drivers are already paying nearly $1 more than the national average

While the national average sits just above $4 per gallon, Washington residents are paying nearly $1 more at the pump than the rest of the country. To make matters worse, in King County specifically, residents are paying an average of $5.38, nearly $1.40 more than the national average, according to AAA.

“We’ll see what happens, but it’s getting more expensive,” Jake said. “It’s a 16% rise in crude oil prices in the last week. That’s not good. I’m getting tired of these high prices.”

“And the national average is over $4 a gallon; that was yesterday,” Spike responded.

“Oh my gosh, that is like a dream scenario. Four bucks a gallon,” Jake said. “It’s one of those weird things where it’s like, we read about oil prices because of Iran, and you think, ‘Yeah, that sucks.’ And then you’re like, ‘What are you paying nationally,’ and they go, ‘It’s almost over four bucks a gallon now.’ You then say, ‘Now, wait a minute. I’ll drive 100 miles for four bucks a gallon.’ That’s crazy. In Washington, it’s a lot more than that.”

Watch the full discussion in the video above.

Listen to “The Jake and Spike Show” weekdays from noon to 3 p.m. on KIRO Newsradio 97.3