Alaska gas prices among the highest in nation, according to AAA - Alaska's News Source

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ANCHORAGE, Alaska (KTUU) - Gas prices around the globe are expected to increase steadily over the remainder of the summer, but won’t return rates in Alaska to previous highs, according to one Alaska oil and gas analyst.

Last year, gas prices in Alaska peaked in late June at $5.609 per gallon, almost $1.30 higher than the current average of $4.338.

“I don’t expect any relief at the pump in the next few weeks,” analyst Larry Persily said. “It’s going to take either a lot [of] new supply that the market doesn’t expect, or lower demand to affect those prices at the pump. So it looks like Alaskans will head into the fall with prices higher than they want at the pump. But lower than they were at the height of the price spike last year.”

According to American Automobile Association, Alaska has the fifth-highest average gas price in the country, trailing only California, Washington, Hawaii and Oregon. On Monday, AAA reported the national average for gas prices at $3.757.

“You’ve had supply cutbacks from some key nations and not enough new supply to overcome that and the demand has been stronger in the U.S. and in China than had been expected,” Persily said. “So there is a growing imbalance between supply and demand. And what’s driving prices higher for crude oil is the expectation that that supply-demand imbalance will get worse as the year goes on.”

Southeast Alaska is seeing the highest gas prices in the state. AAA is reporting averages of $5.184 in Sitka and $4.944 on Prince of Wales Island. Valdez and Cordova also sit at an average of $4.944.

“Smaller communities, particularly ones where the fuel has to be barged or flown in, smaller communities that don’t have that much volume, whether it’s in Bush Alaska, in Southeast, always pay substantially more than Anchorage,” Persily said.

Despite the high gas prices in this region of the state, Southeast’s Juneau and Ketchikan each have some of the cheapest gas averages. Juneau is reported to have an average of $4.107 while Ketchikan sits at an average of $4.016.

AAA reports Anchorage gas prices at $4.327.

Persily has followed the rising and falling prices of gas in Alaska for the past 25 years. Within those past two and a half decades, prices have been constantly on the move.

“It changes daily, weekly, monthly, depending on what’s going on in China, what’s going on of late certainly in the Ukraine, U.S. production, U.S. demand. Oil and gas prices just move up and down,” Persily said.

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