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Why Seattle gas could hit $10 a gallon

Rising gas prices hit Washington drivers harder than most.

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If global disruptions continue, <a class="gtmContentClick" data-vars-link-text="gas prices" data-vars-click-url="https://www.axios.com/2026/04/01/crude-oil-costs-explain-convert-gas-prices" data-vars-content-id="4c756662-a3ee-441c-87ab-3464aef19b57" data-vars-headline="Why Seattle gas could hit $10 a gallon" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2026/04/01/crude-oil-costs-explain-convert-gas-prices" target="_self">gas prices</a> here could climb as high as $10 a gallon.Why it matters: Washington drivers already pay among the <a class="gtmContentClick" data-vars-link-text="highest gas prices" data-vars-click-url="https://www.axios.com/local/seattle/2025/06/27/washington-gas-tax-increase-july-1" data-vars-content-id="4c756662-a3ee-441c-87ab-3464aef19b57" data-vars-headline="Why Seattle gas could hit $10 a gallon" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/seattle/2025/06/27/washington-gas-tax-increase-july-1" target="_self">highest gas prices</a> in the country — so when prices rise, the pain hits harder.

Ferguson signs Washington income tax targeting millionaires

The 9.9% tax on income over $1M starts in 2028 and is expected to face a court challenge.

Gov. Bob Ferguson signed a <a class="gtmContentClick" data-vars-link-text="new tax" data-vars-click-url="https://www.axios.com/local/seattle/2026/03/11/washington-income-tax-millionaires-clears-house" data-vars-content-id="097d3f7d-40d1-443a-ae66-8c858596a5c2" data-vars-headline="Ferguson signs Washington income tax targeting millionaires" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/seattle/2026/03/11/washington-income-tax-millionaires-clears-house" target="_self">new tax</a> on high earners into law Monday, ending Washington&#x27;s run as one of the few states without an income tax on the books.Why it matters: The tax, which won&#x27;t be imposed for nearly two years, is likely to face <a class="gtmContentClick" data-vars-link-text="legal and political" data-vars-click-url="https://www.axios.com/local/seattle/2026/03/12/washington-income-tax-clears-legislature-faces-challenges" data-vars-content-id="097d3f7d-40d1-443a-ae66-8c858596a5c2" data-vars-headline="Ferguson signs Washington income tax targeting millionaires" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/seattle/2026/03/12/washington-income-tax-clears-legislature-faces-challenges" target="_self">legal and political</a> challenges, even as supporters say it will make the state&#x27;s tax code fairer.

Seattle jobless rate keeps climbing

Seattle's unemployment rate now exceeds the state's, a reversal typically seen during downturns.

Seattle&#x27;s <a class="gtmContentClick" data-vars-link-text="unemployment rate" data-vars-click-url="https://www.axios.com/2026/03/06/jobs-february-unemployment-trump" data-vars-content-id="4e2d0b28-0f91-4451-9459-b506595b015b" data-vars-headline="Seattle jobless rate keeps climbing" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2026/03/06/jobs-february-unemployment-trump" target="_self">unemployment rate</a> is higher than the state&#x27;s — a rare reversal for the region&#x27;s job market.The big picture: Seattle&#x27;s unemployment rate <a class="gtmContentClick" data-vars-link-text="surpassed the state&#x27;s" data-vars-click-url="https://www.axios.com/local/seattle/2026/01/21/seattle-unemployment-jobless-rate-rise-2025-tech-layoffs" data-vars-content-id="4e2d0b28-0f91-4451-9459-b506595b015b" data-vars-headline="Seattle jobless rate keeps climbing" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/seattle/2026/01/21/seattle-unemployment-jobless-rate-rise-2025-tech-layoffs" target="_self">surpassed the state&#x27;s</a> in November and has continued rising, reaching 5.2% in January versus 5.0% statewide, according to state data shared with Axios.

Seattle has 6 big AI advantages but needs a strategy

But  Washington trails rivals in federal funding despite six key AI advantages, a new report finds.

Seattle has the talent, tech and infrastructure to be a top AI hub — but a roundtable last week showed civic and industry leaders are split on how to turn those advantages into global dominance.Why it matters: AI is quickly becoming a key driver of economic growth, and regions that lead could capture high-paying jobs, attract billions in investment, and anchor the next generation of tech companies.

How much you need to make to be in Washington's top 1%

To be among the top 1% of earners in Washington state, you need to make at least $1 million per year — well above the threshold to be in the <a class="gtmContentClick" data-vars-link-text="top 1% nationally," data-vars-click-url="https://www.axios.com/2024/12/05/americans-income-top-one-percent-states" data-vars-content-id="f1117c55-a9bf-4c06-8a46-1fae9a91cbba" data-vars-headline="How much you need to make to be in Washington&#x27;s top 1%" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/12/05/americans-income-top-one-percent-states" target="_self">top 1% nationally,</a> according to an Axios analysis of IRS data.Why it matters: Income inequality has increased in recent years, with wealth becoming more concentrated at the top, per a report <a class="gtmContentClick" data-vars-link-text="released this month" data-vars-click-url="https://www.cbo.gov/publication/60343" data-vars-content-id="f1117c55-a9bf-4c06-8a46-1fae9a91cbba" data-vars-headline="How much you need to make to be in Washington&#x27;s top 1%" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cbo.gov/publication/60343" target="_blank">released this month</a> by the Congressional Budget Office.

Where the rich got richer in the Seattle area

Bainbridge Island and Issaquah saw the largest percent increase in mean household income between 2019 and 2022.

Four Seattle-area cities are among the top in the nation where <a class="gtmContentClick" data-vars-link-text="the rich got richer" data-vars-click-url="https://www.axios.com/2024/01/10/wealthy-own-record-share-stock-market" data-vars-content-id="f23f991b-4fd8-4e63-98cc-a3500581c36d" data-vars-headline="Where the rich got richer in the Seattle area" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/01/10/wealthy-own-record-share-stock-market" target="_self">the rich got richer</a> in the last few years, according to an analysis of census data released last week.Why it matters: While Americans as a whole <a class="gtmContentClick" data-vars-link-text="prospered during the pandemic" data-vars-click-url="https://www.axios.com/2023/10/19/us-household-net-worth-chart" data-vars-content-id="f23f991b-4fd8-4e63-98cc-a3500581c36d" data-vars-headline="Where the rich got richer in the Seattle area" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/10/19/us-household-net-worth-chart" target="_self">prospered during the pandemic</a>, <a class="gtmContentClick" data-vars-link-text="stock market booms" data-vars-click-url="https://www.axios.com/2020/09/03/stock-market-rise-sp-dow-jones-nasdaq" data-vars-content-id="f23f991b-4fd8-4e63-98cc-a3500581c36d" data-vars-headline="Where the rich got richer in the Seattle area" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2020/09/03/stock-market-rise-sp-dow-jones-nasdaq" target="_self">stock market booms</a> primarily boosted the wealth of households at the top of the ladder, wrote <a class="gtmContentClick" data-vars-link-text="Axios Markets&#x27; Matt Phillips" data-vars-click-url="https://www.axios.com/2024/01/10/wealthy-own-record-share-stock-market" data-vars-content-id="f23f991b-4fd8-4e63-98cc-a3500581c36d" data-vars-headline="Where the rich got richer in the Seattle area" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/01/10/wealthy-own-record-share-stock-market" target="_self">Axios Markets&#x27; Matt Phillips</a>.

A choropleth map of the U.S. showing the adjusted gross income needed to be in the top 1% of earners by state, using IRS tax year 2021 data adjusted to October 2024 dollars. Washington, D.C. leads at $1,222,791.28, while West Virginia trails at $425,816.40. The national figure is $797,760.07.

Money

How much you need to make to be in Washington's top 1%

Charted: Local poverty rate ticks up

Reality bites for Gen X retirement

Where the rich got richer in the Seattle area