UW economics professor explains statewide inflation, how long it could last Kevin Ko Washingtonians may be surprised when paying more at the grocery store, but it’s an expected consequence for economists like Will McGuire, an associate professor of economics at the University of Washington Tacoma. “In reality, the average retail price of gasoline right now is pretty much the same as it was in May of 2019,” McGuire, who teaches at UW’s School of Interdisciplinary Arts, said. “Gasoline actually decreased in price pretty significantly last summer. The average retail price across the whole country fell to about $2 per gallon.”