Gas prices volatile as global supplies dwindle

Global oil supplies are down, but prices for crude are falling, creating what industry analysts are calling a critical situation based on unstable world events that could lead to shortages.

"If for some reason China and the United States could get their act together and decide that they are going to agree on something, then watch out," says Dan McTeague with GasBuddy. "That could create a real snapback in prices, and it could shock a lot of people."

McTeague says most people have never lived through a trade war like we're experiencing between the U.S. and China, and may not be prepared for the next stage.

"We've lived in an era of globalization in which trade continues to be the path out of economic isolation, so this is a whole new era for us," McTeague said.

We've seen prices at the pump rise a few cents over the past few days.

In the Tri-Cities we're paying $3.32 on average for a gallon of regular. That's about 13 cents more than we were paying one month ago.

Other prices in the region include:
$3.35 in Grant County.
$3.34 Chelan County
$3.34 Kittias County
3.36 in Douglas County
3.42 in Adams County