2020 Oregon Gas Price News

The latest news on local, regional, and national fuel prices for Oregonians

Updated 8/4/2020

Gas Price Increases Hit the Brakes

PORTLAND, Ore., – Gas prices are seeing minimal movement in all but a few states despite an increase in demand for gasoline. For the week, the national average ticks down half a cent to $2.18 a gallon. The Oregon average slips a penny to $2.65.

National State Local Gas Prices 8-4-20

Gasoline demand in the U.S. is up three percent in the last week, measuring at 8.8 million b/d – the highest reading since the start of the coronavirus pandemic. However, year-over-year demand is down about eight percent according to the U.S. Energy Information Administration (EIA).

Prices have been largely unaffected by Isaias which made landfall in North Carolina as a Category 1 hurricane Monday night. Given lower than normal U.S. gasoline demand and healthy stock levels, gas prices nationally are not likely to be impacted by the storm.

“AAA expects gas prices to continue to fluctuate for the rest of the summer, but major spikes aren’t expected especially with increases in COVID-19 cases in many states including Oregon,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Visit AAA.com/covidmap for an interactive map with the latest travel restrictions and policies for North America. Find AAA’s latest COVID-19 information for travelers here.

Oregon is one of 39 states and the District of Columbia with lower prices now than a week ago. Only two states saw gas prices rise more than four cents. Utah (+8 cents) has the largest weekly increase. Indiana (-4 cents) has the largest week-over-week decrease.

For the eighth week in a row, Hawaii ($3.24) and California ($3.18) are the only two states in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.83) and Louisiana ($1.86). This is the 21st week in a row that one or more states has an average below $2 a gallon. In all, 13 states are below that benchmark, same as a week ago.

Oregon is one of 30 states with higher prices now than a month ago. The national average is the same as a month ago and the Oregon average is five cents more than a month ago. This is the 10th-largest monthly increase in the country. Utah (+12 cents) has the largest month-over-month increase. North Carolina (-9 cents) has the largest month-over-month decline.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 53 cents less and the Oregon average is 49 cents less than a year ago. This is the 37th-largest yearly drop in the nation. Ohio (-71 cents) has the largest year-over-year drop. Colorado (-20 cents) has the smallest.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with every state in the region except Arizona in the top 10.

Hawaii is most expensive for the 34th week in a row. As mentioned above, Hawaii and California are the only two states in the nation with an average at or above $3 a gallon. California, Washington, Nevada, Oregon and Alaska round out the top 6. Arizona is 12th. Oregon falls to fifth most expensive after spending the last three weeks at fourth.

Like the rest of the country, the West Coast region is seeing little movement in gas prices. California (+1 cent) has the largest weekly increase in the region. Oregon (-1 cent) has the largest weekly decline.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 30.95 million bbl to 29.67 million bbl last week. If demand increases this week, decreasing stocks could contribute to increasing pump prices in the region.

Oil market dynamics

Domestic crude prices rose last week after EIA’s latest weekly report revealed that total domestic crude inventories decreased by 10.6 million bbl, bringing the current total to 526 million bbl. The price increase, amid increasing gasoline demand, up from 8.55 million b/d to 8.81 million b/d in the latest EIA report, could mean that the domestic crude market is meeting demand and production is stabilizing as coronavirus infections continue to increase worldwide. If crude supplies continue to decline alongside rising demand, domestic crude prices could continue to increase this week.

At the end of Friday’s formal trading session, WTI increased by 35 cents to settle at $40.27 per barrel. At the end of Monday’s formal trading session, WTI rose 74 cents to settle at $41.01 per barrel. Today crude is trading around $42, same as a week ago. Crude prices are up about three percent in the last month and are about $15 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 8-3-20

Diesel

For the week, the national average remains at $2.43 a gallon. Oregon’s average holds steady at $2.62. A year ago the national average for diesel was $2.99 and the Oregon average was $3.17.

Find current fuel prices at GasPrices.AAA.com.

AAA news releases, high resolution images, broadcast-quality video, fact sheets and podcasts are available on the AAA NewsRoom at NewsRoom.AAA.com.

Find local news releases at https://www.oregon.aaa.com/category/news-releases/

Fuel prices are updated daily at AAA’s Daily Fuel Gauge at AAA Gas Prices. For more info go www.AAA.com.  AAA Oregon/Idaho provides more than 820,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 60 million motorists in North America.

 

Updated 7/28/2020

Gas Demand Slips as COVID-19 Cases Climb

PORTLAND, Ore., – As the number of COVID-19 cases rise in Oregon and many other states, demand for gasoline nationwide is declining. The lower demand is putting downward pressure on pump prices, with averages ticking down or holding steady in most states. For the week, the national average slips half a cent to $2.19 a gallon. This is the first time since late April that the national average has declined. The Oregon average remains at $2.66.

National State Local Gas Prices 7-28-20

The U.S. Energy Information Administration shows demand at 8.5 million b/d which is about 11 percent less than a year ago.

“Gas prices are likely to fluctuate throughout the rest of the summer due to concerns about the coronavirus pandemic. Some states are again tightening restrictions which impact gasoline demand and consumption,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Visit AAA.com/covidmap for an interactive map with the latest travel restrictions and policies for North America. Find AAA’s latest COVID-19 information for travelers here.

Oregon is one of 47 states and the District of Columbia where the gas price average is within three cents of last week’s price. Only two states saw gas prices rise more than four cents. Utah (+6 cents) has the largest weekly increase. Michigan (-4 cents) has the largest week-over-week decrease.

For the seventh week in a row, Hawaii ($3.24) and California ($3.17) are the only two states in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.84) and Louisiana ($1.86). This is the 20th week in a row that one or more states has an average below $2 a gallon. In all, 13 states are below that benchmark, up from 10 a week ago.

Oregon is one of 34 states and the District of Columbia with higher prices now than a month ago. The national average is one cent and the Oregon average is seven cents more than a month ago. This is the 12th-largest monthly increase in the country. California (+10 cents) has the largest month-over-month increase. North Carolina (-9 cents) has the largest month-over-month decline.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 55 cents less and the Oregon average is 49 cents less than a year ago. This is the 41st-largest yearly drop in the nation. Michigan (-71 cents) has the largest year-over-year drop. Colorado (-21 cents) has the smallest.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with every state in the region except Arizona in the top 10.

Rank Region Price on 7/28/2020
1 Hawaii $3.24
2 California $3.17
3 Washington $2.80
4 Oregon $2.66
5 Nevada $2.65
6 Alaska $2.53
7 Colorado $2.45
8 Pennsylvania $2.42
9 Idaho $2.39
10 Illinois $2.37

Hawaii is most expensive for the 33rd week in a row. As mentioned above, Hawaii and California are the only two states in the nation with an average at or above $3 a gallon. Washington, Oregon, Nevada, and Alaska round out the top 6. Arizona is 11th. Oregon is fourth most expensive for the third week in a row.

Weekly increases in the region are small. California (+3 cents) has the largest weekly increase in the region, and Oregon (+1/10th of a cent) has the smallest.

According to EIA’s latest weekly report, total gas stocks in the region increased slightly from 30.92 million bbl to 30.95 million bbl last week. If demand increases in the region this week, healthy stock levels will likely help to moderate pump price increases.

Oil market dynamics

Domestic crude prices rose last week due to a slight decrease in the value of the U.S. dollar. Crude is bought and sold in U.S. dollars. When the dollar loses value, the price of oil becomes more expensive. Crude oil prices could slip this week, since EIA’s weekly report revealed that total domestic inventories increased by 4.9 million bbl. The increase, amid falling gasoline demand, could mean that the domestic crude market is oversupplied.

At the end of Friday’s formal trading session, WTI increased by 22 cents to settle at $41.29 per barrel. At the end of Monday’s formal trading session, WTI rose 31 cents to settle at $41.60 per barrel. Today crude is trading around $41 compared to $42 a week ago. Crude prices are up about four percent in the last month and are about $15 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 7-28-20

Diesel

For the week, the national average remains at $2.43 a gallon. Oregon’s average holds steady at $2.62. A year ago the national average for diesel was $2.99 and the Oregon average was $3.18.

Find current fuel prices at GasPrices.AAA.com.

AAA news releases, high resolution images, broadcast-quality video, fact sheets and podcasts are available on the AAA NewsRoom at NewsRoom.AAA.com.

Find local news releases at https://www.oregon.aaa.com/category/news-releases/

Fuel prices are updated daily at AAA’s Daily Fuel Gauge at AAA Gas Prices. For more info go www.AAA.com.  AAA Oregon/Idaho provides more than 820,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 60 million motorists in North America.

 

Updated 7/21/2020

PORTLAND, Ore., – Pump prices are fairly steady, moving up or down just a few cents depending on regional supply and demand. For the week, the national average slips one cent to $2.19 a gallon. The Oregon average edges up one cent to $2.66.

Demand for gasoline in the U.S. has roughly held steady over the past four weeks. The U.S. Energy Information Administration shows that demand has averaged about 8.6 million b/d while gasoline stocks have steadily declined. Demand is down one percent week-over-week, up nine percent month-over-month, and down six percent compared to last year.

Meanwhile, gasoline stocks measure at a one percent weekly decline, a three percent decrease month-over-month, but a seven percent increase compared to last year. “Week by week, we’re seeing mostly regional fluctuations at the pumps, depending on supply and demand in the area.

Here in the West Coast region, gasoline stocks have increased in the last week which will help prevent large swings in pump prices in the short-term,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Of course, the coronavirus pandemic continues to impact driving behaviors.”

Visit AAA.com/covidmap for an interactive map with the latest travel restrictions and policies for North America.

Here in Oregon, traffic volumes are steadily increasing. The most recent traffic volume report (July 17, 2020) from the Oregon Department of Transportation shows the most recent full week saw an average reduction of 12 percent in weekday traffic volumes and an 18 percent reduction in weekend volumes overall compared to the previous year.

For the month of April, traffic began with 43 percent lower weekday volumes and 55 percent lower weekend volumes than 2019. https://www.oregon.gov/odot/Data/Documents/ODOT_TrafficReport_July_17_2020.pdf

Oregon is one of 28 states with higher prices now than a week ago. South Dakota (+4 cents) has the largest weekly increase. Ohio (-6 cents) has the largest week-over-week decrease.

For the sixth week in a row, Hawaii ($3.23) and California ($3.14) are the only two states in the nation with an average at or above $3 a gallon. The cheapest gas in the nation can be found in Mississippi ($1.84) and Louisiana ($1.87). This is the 19th week in a row that one or more states has an average below $2 a gallon. In all, 10 states are below that benchmark, same as a week ago. Oregon is one of 49 states and the District of Columbia with higher prices now than a month ago.

The national average is six cents and the Oregon average is eight cents more than a month ago. This is the 17th-largest monthly increase in the country. Delaware (+13 cents) has the largest month-over-month increase. Ohio (-2 cents) is the only state with a month-over-month decline.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 58 cents less and the Oregon average is 52 cents less than a year ago. This is the 41st-largest yearly drop in the nation. Connecticut (-69 cents) has the largest year-over-year drop. Colorado (-22 cents) has the smallest.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with every state in the region in the top 10. Increases in pump prices across the West Coast region were moderate and that trend will likely continue this week.

Rank Region Price on 7/21/2020
1 Hawaii $3.23
2 California $3.14
3 Washington $2.80
4 Oregon $2.66
5 Nevada $2.64
6 Alaska $2.53
7 Colorado $2.46
8 Pennsylvania $2.43
9 Illinois $2.38
10 Arizona $2.35

Hawaii is most expensive for the 32nd week in a row. As mentioned above, Hawaii and California are the only two states in the nation with an average at or above $3 a gallon.

Washington, Oregon, Nevada, and Alaska round out the top 6. Arizona is 10th. Oregon is fourth most expensive for the second week in a row. Washington (+2 cents) and Arizona (+2 cents) have the largest weekly increase in the region. Hawaii (+1 cent) has the smallest week-over-week increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region increased from 29.6 million bbl to 30.9 million bbl last week. If demand increases in the region this week, healthy stock levels will likely help to moderate pump price increases.

Oil market dynamics

Domestic crude prices were fairly steady last week but slipped a bit at the end of the week after EIA’s weekly report revealed that total domestic crude inventories decreased by 7.5 million bbl to 531.7 million bbl. Prices increased slightly to start this week. Decreasing crude stocks could mean that crude production is beginning to meet demand, which could stabilize crude prices this week, as coronavirus outbreaks continue to grow worldwide.

At the end of Friday’s formal trading session, WTI decreased by 16 cents to settle at $40.59 per barrel. At the end of Monday’s formal trading session, WTI rose 22 cents to settle at $40.81 per barrel. Today crude is trading around $42 compared to $40 a week ago. Crude prices are up about four percent in the last month and are about $15 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average slips half a cent to $2.43 a gallon. Oregon’s average also ticks down half a cent to $2.62. A year ago the national average for diesel was just under $3.00 and the Oregon average was $3.20.

Find current fuel prices at GasPrices.AAA.com.

AAA news releases, high resolution images, broadcast-quality video, fact sheets and podcasts are available on the AAA NewsRoom at NewsRoom.AAA.com.

Find local news releases at https://www.oregon.aaa.com/category/news-releases/

Fuel prices are updated daily at AAA’s Daily Fuel Gauge at AAA Gas Prices. For more info go www.AAA.com.  AAA Oregon/Idaho provides more than 820,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 60 million motorists in North America.

 

Updated 7/14/2020

Gas Prices Rise as Demand Soars to Highest Level Since March

PORTLAND, Ore., – Demand for gasoline in the U.S. has climbed to its highest level in four months as stocks decreased. The combination is sending pump prices higher in most states. For the week, the national average adds two cents to $2.20 a gallon. The Oregon average gains three cents to $2.65.

The latest report from the U.S. Energy Information Administration shows demand at 8.7 million b/d. From May to early July in 2019, gasoline demand averaged 9.5 million b/d. For the same time period this year, demand is measuring at 8 million b/d while gasoline stocks sit, on average, at a 24 million bbl surplus. The low demand and high supply are keeping gas prices relatively cheap for the summertime.

“Gasoline supply and demand continue to be on a roller coaster ride due to COVID-19,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. We’re seeing driving behaviors ebb and flow as people react to developments surrounding the coronavirus pandemic. All in all, the relatively low demand and high supply are keeping gas prices in check this summer.”

Visit AAA.com/covidmap for an interactive map with the latest travel restrictions and policies for North America.

Here in Oregon, traffic volumes are steadily increasing. The most recent traffic volume report (July 10, 2020) from the Oregon Department of Transportation shows the most recent full week saw an average reduction of six percent in weekday traffic volumes and a 26 percent reduction in weekend volumes overall compared to the previous year. For the month of April, traffic began with 43 percent lower weekday volumes and 55 percent lower weekend volumes than 2019.

https://www.oregon.gov/odot/Data/Documents/ODOT_TrafficReport_July_10_2020.pdf

Oregon is one of 39 states and the District of Columbia with higher prices now than a week ago. Indiana (+10 cents) has the largest weekly increase. Wisconsin (-2 cents) has the largest week-over-week decrease.

For the fifth week in a row, Hawaii ($3.22) and California ($3.13) are the only two states in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.84) and Louisiana ($1.86). This is the 18th week in a row that one or more states has an average below $2 a gallon. In all, 10 states are below that benchmark, down from 12 a week ago.

All 50 states and the District of Columbia have higher prices now than a month ago. The national average is 10 cents and the Oregon average is nine cents more than a month ago. This is the 29th-largest monthly increase in the country. Delaware (+23 cents) has the largest month-over-month increase while Utah (+4/10 of a cent) has the smallest.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 59 cents less and the Oregon average is 56 cents less than a year ago. This is the 30th-largest yearly drop in the nation. Illinois (-77 cents) has the largest year-over-year drop. Colorado (-23 cents) has the smallest.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with every state in the region except Arizona in the top 10. Increases in pump prices across the West Coast region were relatively low last week, and that trend is likely to continue this week.

Rank Region Price on 7/14/2020
1 Hawaii $3.22
2 California $3.13
3 Washington $2.78
4 Oregon $2.65
5 Nevada $2.64
6 Alaska $2.51
7 Colorado $2.48
8 Pennsylvania $2.45
9 Illinois $2.40
10 Idaho $2.35

Hawaii is most expensive for the 31st week in a row. As mentioned above, Hawaii and California are the only two states in the nation with an average at or above $3 a gallon. Washington, Oregon, Nevada, and Alaska round out the top 6. Arizona is 12th. Oregon rises to fourth most expensive after three weeks at fifth.

Washington (+3 cents) and Oregon (+3 cents) have the largest weekly increase in the region. Arizona (+3/10 cent) has the smallest week-over-week increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 30.3 million bbl to 29.6 million bbl last week. If demand increases, decreasing stocks will likely contribute to increasing pump prices in the region this week.

Oil market dynamics

Domestic crude prices were volatile last week after EIA’s weekly report revealed that total domestic crude inventories increased by 5.7 million bbl to 539.2 million bbl. Increasing crude stocks could mean that crude production is still too high given where demand is currently, as new coronavirus outbreaks emerge. If EIA’s data shows another increase in total domestic supply this week, crude prices could decline.

At the end of Friday’s formal trading session, WTI increased by 93 cents to settle at $40.55 per barrel. At the end of Monday’s formal trading session, WTI fell 45 cents to settle at $40.10 per barrel. Today crude is trading around $40 compared to $41 a week ago. Crude prices are up about nine percent in the last month and are about $20 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

 

Diesel

For the week, the national average remains at $2.44 a gallon. Oregon’s average gains a penny to $2.62. A year ago the national average for diesel was just under $3.01 and the Oregon average was $3.20.

Find current fuel prices at GasPrices.AAA.com.

AAA news releases, high resolution images, broadcast-quality video, fact sheets and podcasts are available on the AAA NewsRoom at NewsRoom.AAA.com.

Find local news releases at https://www.oregon.aaa.com/category/news-releases/

Fuel prices are updated daily at AAA’s Daily Fuel Gauge at AAA Gas Prices. For more info go www.AAA.com.  AAA Oregon/Idaho provides more than 820,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 60 million motorists in North America.

 

Updated 7/07/2020

Low Volatility at the Pumps to Start July

PORTLAND, Ore., – Gas prices are fairly steady in all 50 states with increases or decreases of a nickel or less. For the week, the national average remains at $2.18 a gallon. The Oregon average adds two cents to $2.61.

U.S. gasoline demand shows a slight drop of 47,000 b/d while gasoline stocks increased by 1 million bbl. “This comes as many states including Oregon report increases in COVID-19 cases, which could be causing Americans to reconsider some outings,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. Visit AAA.com/covidmap for an interactive map with the latest travel restrictions and policies for North America.

Drivers who hit the road for Independence Day found pump prices were about 60 cents a gallon cheaper than last year. The national average was the cheapest for the holiday since 2004 and the Oregon average was at its cheapest since 2016.

Beyond typical fluctuation at the pump, on the week a few states saw prices jump due to fuel tax increases on July 1. This includes California, Illinois, Indiana, Iowa, Nebraska, South Carolina and Maryland.

Here in Oregon, traffic volumes are steadily increasing. The most recent traffic volume report (July 2, 2020) from the Oregon Department of Transportation shows the most recent full week saw an average reduction of 13 percent in weekday traffic volumes and a 20 percent reduction in weekend volumes overall compared to the previous year. For the month of April, traffic began with 43 percent lower weekday volumes and 55 percent lower weekend volumes than 2019.

https://www.oregon.gov/odot/Data/Documents/ODOT_TrafficReport_July%202_2020.pdf

Oregon is one of 34 states and the District of Columbia with higher prices now than a week ago but all of the increases are moderate. Nebraska (+5 cents) has the largest weekly increase. Indiana (-4 cents) has the largest week-over-week decrease. Prices are flat in Georgia.

For the fourth week in a row, Hawaii ($3.23) and California ($3.10) are the only two states in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.83) and Louisiana ($1.85). This is the 17th week in a row that one or more states has an average below $2 a gallon. In all, 12 states are below that benchmark, same as a week ago.

All 50 states and the District of Columbia have higher prices now than a month ago. The national average is 16 cents and the Oregon average is 13 cents more than a month ago. This is the 39th-largest monthly increase in the country. Montana (+28 cents) has the largest month-over-month increase while Utah (+2 cents) has the smallest.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 58 cents less and the Oregon average is 60 cents less than a year ago. This is the 16th-largest yearly drop in the nation. Alaska (-74 cents) has the largest year-over-year drop. Colorado (-23 cents) has the smallest.

 

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with every state in the region except Arizona in the top 10. Increases in pump prices across the West Coast region slowed last week, and prices are likely to continue that trend this week.

Rank Region Price on 7/7/2020
1 Hawaii $3.23
2 California $3.10
3 Washington $2.75
4 Nevada $2.63
5 Oregon $2.61
6 Alaska $2.50
7 Colorado $2.47
8 Pennsylvania $2.44
9 Illinois $2.37
10 Idaho $2.35

Hawaii is most expensive for the 30th week in a row. As mentioned above, Hawaii and California are the only two states in the nation with an average at or above $3 a gallon. Washington, Nevada, Oregon, and Alaska round out the top 6. Arizona is 11th. Oregon is fifth most expensive for the third week in a row.

Hawaii (+4 cents) has the largest weekly increase in the region. Arizona (+1/10 cent) has the smallest week-over-week increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region increased from 29.8 million bbl to 30.3 million bbl last week. Increasing stocks will likely contribute to slowing pump price increases this week in the region.

 

Oil market dynamics

Domestic crude prices increased after EIA’s weekly report revealed that total domestic crude inventories fell by 7.2 million bbl to 533.5 million bbl. Decreasing crude stocks could mean that crude production is meeting demand as it continues to recover amid new coronavirus outbreaks around the world, which could suppress global crude demand during the second half of 2020.

At the end of Friday’s formal trading session, WTI increased by 83 cents to settle at $40.65 per barrel. At the end of Monday’s formal trading session, WTI fell two cents to settle at $40.63 per barrel. Today crude is trading around $41 compared to $40 a week ago. Crude prices are up about seven percent in the last month and are about $17 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average remains at $2.44 a gallon. Oregon’s average holds steady at $2.61. A year ago the national average for diesel was just under $3.01 and the Oregon average was $3.20.

 

Find current fuel prices at GasPrices.AAA.com.

AAA news releases, high resolution images, broadcast-quality video, fact sheets and podcasts are available on the AAA NewsRoom at NewsRoom.AAA.com.

Find local news releases at https://www.oregon.aaa.com/category/news-releases/

Fuel prices are updated daily at AAA’s Daily Fuel Gauge at AAA Gas Prices. For more info go www.AAA.com.  AAA Oregon/Idaho provides more than 820,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 60 million motorists in North America.

 

Updated 6/23/2020

Pump Price Increases Slow Alongside Dip in Gas Demand

PORTLAND, Ore., – Gas prices continue to increase but the rate is slowing down with 37 states, including Oregon, seeing increases of a nickel or less. For the week, the national average for regular gains four cents to $2.14 a gallon. The Oregon average adds three cents to $2.58.

National State Local Gas Prices 6-23-2020

The slower rate can be tied to demand. Measuring at 7.87 million b/d, U.S. gasoline demand saw a small week-over-week decline and continues to be significantly lower (21 percent) compared to this week last year.

“Demand levels are likely to ebb and flow in the coming weeks. States including Oregon are reopening but people continue to be cautious about travel,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “AAA expects pump prices to continue to rise but at a slower rate through the end of the month.”

Here in Oregon, traffic volumes are steadily increasing. The most recent traffic volume report (June 19, 2020) from the Oregon Department of Transportation shows the most recent full week saw an average reduction of 19 percent in weekday traffic volumes and a 26 percent reduction in weekend volumes overall compared to the previous year. For the month of April, traffic began with 43 percent lower weekday volumes and 55 percent lower weekend volumes than 2019.

https://www.oregon.gov/odot/Data/Documents/ODOT_TrafficReport_June19_2020.pdf

Oregon is one of 47 states and the District of Columbia with higher prices now compared to one week ago. West Virginia (+11 cents) and Delaware (+10 cents) have the largest weekly increases and are among 13 states with weekly increases greater than a nickel. Utah, Indiana and Hawaii are the only states with week-over-week declines and all are a cent or less.

For the second week in a row, Hawaii ($3.18) and California ($3.05) are the only two states in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.78) and Louisiana ($1.81). This is the 15th week in a row that one or more states has an average below $2 a gallon. In all, 13 states are below that benchmark, down from 19 a week ago.

All 50 states and the District of Columbia have higher prices now than a month ago. The national average is 19 cents and the Oregon average is 15 cents more than a month ago. This is the 37th -largest monthly increase in the country. Hawaii (+3/10 cent) has the smallest month-over-month increase.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 52 cents less and the Oregon average is 66 cents less than a year ago. This is the 10th-largest yearly drop in the nation. Alaska (-84 cents) has the largest year-over-year drop. Colorado (-35 cents) has the smallest.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with every state in the region except Arizona in the top 10. Prices are climbing in every state in the region except Hawaii and are likely to continue to move up this week.

Rank Region Price on 6/23/2020
1 Hawaii $3.18
2 California $3.05
3 Washington $2.69
4 Nevada $2.59
5 Oregon $2.58
6 Alaska $2.46
7 Colorado $2.40
8 Pennsylvania $2.39
9 Illinois $2.34
10 Idaho $2.33

Hawaii is most expensive for the 28th week in a row. As mentioned above, Hawaii and California are the only two states in the nation with an average at or above $3 a gallon. Washington, Nevada, Oregon, and Alaska round out the top 6. Arizona is 11th. Oregon drops one place to fifth most expensive after two weeks at fourth.

Washington (+5 cents) and Nevada (+5 cents) have the largest weekly increases in the region. Hawaii’s average declined by fractions of a cent.

According to EIA’s latest weekly report, total gas stocks in the region increased slightly from 30.1 million bbl to 30.2 million bbl last week. Increasing stocks, alongside increasing demand, may help to slow pump price increases this week in the region.

Oil market dynamics

Domestic crude prices increased at the end of last week amid increased market optimism regarding trade relations between the U.S. and China and greater focus on compliance with the production reduction agreement between the Organization of the Petroleum Exporting Countries (OPEC) and its partners, including Russia, which has worked to cut global crude production by 9.7 million b/d since May 1, 2020. It remains unclear if OPEC’s agreement will extend into August; it is currently set to expire at the end of July. For this week, crude prices will likely remain volatile as the market assesses if global crude demand will decrease due to a spike in new coronavirus infections worldwide.

At the end of Friday’s formal trading session, WTI increased by 91 cents to settle at $39.75 per barrel. At the end of Monday’s formal trading session, WTI added 71 cents to settle at $40.46. per barrel. Today crude is trading around $41 compared to $37 a week ago. Crude prices are up about 20 percent in the last month and are about $17 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average ticks up a penny to $2.43 a gallon. Oregon’s average also adds a penny to $2.60. A year ago the national average for diesel was $2.99 and the Oregon average was $3.22.

 

Updated 6/16/2020

Pump Prices Rise due to Steady Increases in Demand

PORTLAND, Ore., – Drivers are filling up more and more. The slow and steady rise in demand is sending pump prices higher. For the week, the national average for regular jumps seven cents to $2.05 a gallon. The Oregon average adds six cents to $2.51.

Since mid-May, gasoline demand has increased 18 percent to 7.9 million b/d, according to the latest U.S. Energy Information Administration (EIA) report. The national gas price average has climbed 13 percent in this same timeframe. Many states, including Oregon, have eased stay-at-home orders which were put in place to slow the spread of COVID-19. Currently, 35 of Oregon’s 36 counties are in Phase 1 or Phase 2 of reopening. Multnomah County is the only county still at baseline.

“People are driving more which is re-fueling gasoline demand levels and contributing to higher pump prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Growing demand will continue to put upward pressure on gas prices, but AAA doesn’t expect them to spike to typical summer prices. That’s because demand won’t be high enough to drive down supplies. Gasoline stocks sit at a significant surplus of nearly 24 million bbl year-over-year.”

Here in Oregon, traffic volumes are steadily increasing. The most recent traffic volume report (June 12, 2020) from the Oregon Department of Transportation shows the most recent full week saw an average reduction of 23 percent in weekday traffic volumes and a 20 percent reduction in weekend volumes overall compared to the previous year. For the month of April, traffic began with 43 percent lower weekday volumes and 55 percent lower weekend volumes than 2019. https://www.oregon.gov/odot/Data/Documents/ODOT_TrafficReport_June12_2020.pdf

Oregon is one of 48 states and the District of Columbia with higher prices now compared to one week ago. Montana (+11 cents) and Georgia (+9 cents) have the largest weekly increases. Utah and Hawaii are the only states with week-over-week declines and both are just fractions of a cent.

This week, California ($3.01) joins Hawaii ($3.19) as the only states in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.74) and Louisiana ($1.77). This is the 14th week in a row that one or more states has an average below $2 a gallon. In all, 19 states are below that benchmark, down from 25 a week ago.

All 50 states and the District of Columbia have higher prices now than a month ago. The national average is 23 cents and the Oregon average is 17 cents more than a month ago. This is the 41st-largest monthly increase in the country. Hawaii (+3 cents) has the smallest month-over-month decline.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 59 cents less and the Oregon average is 73 cents less than a year ago. This is the 10th-largest yearly drop in the nation. Alaska (-97 cents) has the largest year-over-year drop. Ohio (-43 cents) has the smallest.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with every state in the region except Arizona in the top 10. Prices are climbing in every state in the region except Hawaii and more increases are expected this week.

Rank Region Price on 6/16/2020
1 Hawaii $3.19
2 California $3.01
3 Washington $2.65
4 Oregon $2.55
5 Nevada $2.54
6 Alaska $2.42
7 Colorado $2.33
8 Pennsylvania $2.32
9 Idaho $2.31
10 Illinois $2.31

Hawaii is most expensive for the 27th week in a row. As mentioned above, this week California joins Hawaii as the only two states in the nation with an average at or above $3 a gallon. California, Washington, Oregon, Nevada, and Alaska round out the top 6. Arizona is 11th. Oregon is fourth most expensive for the second week in a row.

Arizona (+7 cents) has the largest weekly increase in the region. Hawaii’s average declined by fractions of a cent.

According to EIA’s latest weekly report, total gas stocks in the region increased slightly from 29.8 million bbl to 30.1 million bbl last week. Increasing stocks, alongside increasing demand, may help to slow pump price increases this week in the region.

Oil market dynamics

Domestic crude prices mostly fell last week amid increased market concern that an increase in new coronavirus infections could lead to another reduction in crude demand. Additionally, EIA’s weekly report showed that total domestic crude inventories grew by 5.7 million bbl last week, bringing the total to 538.1 million bbl. The increase in crude supplies also helped to push oil prices lower, since it signals that domestic crude production may need to reduce further in order to meet lower than normal demand. If these trends continue this week, crude prices could decline further.

At the end of Friday’s formal trading session, WTI slipped eight cents to settle at $36.26 per barrel. At the end of Monday’s formal trading session, WTI added 86 cents to settle at $37.12 per barrel. Today crude is trading around $37 compared to $38 a week ago. Crude prices are up about 14 percent in the last month and are about $15 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average holds steady at $2.42 a gallon. Oregon’s average adds a penny to $2.58. A year ago the national average for diesel was $3.02 and the Oregon average was $3.24.

 

Updated 6/9/2020

Rebounding Gasoline Demand Pushes Pump Prices Higher

Cristobal not expected to have major Impact on gas prices nationally

PORTLAND, Ore., – Pump prices continue to climb as demand for gas increases to the highest level since states began issuing stay-at-home orders in mid-March due to the coronavirus pandemic. For the week, the national average for regular jumps seven cents to $2.05 a gallon. The Oregon average adds six cents to $2.51.

For 66 days, the national gas price average held below the $2 per gallon mark, pushing as cheap as $1.76 in April. The Oregon average fell to a year-to-date low of $2.38 in May before starting to rise again.

Despite the consistent increases at the pump, prices are still significantly cheaper year-over-year. In fact, during the first week of June the past five years, the average price for gas nationally is $2.81 and in Oregon it’s $3.00 a gallon.

“Drivers will continue to enjoy low gas prices for this time of year,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “As crude oil prices trend higher and gasoline demand increases, gas prices will rise but remain lower than last summer.”

U.S. gasoline demand continues to show increasing strength. The U.S. Energy Information Administration’s (EIA) latest reading shows a 4 percent weekly increase at 7.5 million b/d. That is the highest demand level since states began issuing stay-at-home orders in mid-March.

Tropical Depression Cristobal is not expected to impact gas prices nationally although there could be some spikes locally. The storm made landfall in Louisiana on Monday. Leading up to the storm, nearly one-third of Gulf Coast oil and gas production and refining was halted. The Gulf of Mexico which accounts for 17 percent of total U.S. crude oil production.

However, lower than normal U.S. gasoline demand, due to stay at home orders in recent months, has helped to drive up gasoline stock levels across the country. Currently, the U.S. has nearly 24 million bbl year-over-year surplus. This will help to keep gas prices mostly in check. More so, it provides the ability to get needed supplies to areas with any potential shortages.

All 50 states and the District of Columbia have higher prices now compared to one week ago. Colorado (+14 cents) and Missouri (+13 cents) have the largest weekly increases. Hawaii (+1 cent) has the smallest.

Hawaii ($3.19) remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.69) and Louisiana ($1.72). This is the 13th week in a row that one or more states has an average below $2 a gallon. In all, 25 states are below that benchmark, down from 35 a week ago.

All 50 states have higher prices now than a month ago. The national average is 21 cents and the Oregon average is 13 cents more than a month ago. This is the 43rd-largest monthly increase in the country. The District of Columbia is the only area with a month-over-month decline and it’s very small – just three-tenths of a cent.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 70 cents less and the Oregon average is 83 cents less than a year ago. This is the 11th-largest yearly drop in the nation. Alaska (-$1.09) has the largest year-over-year drop. Hawaii (-46 cents) has the smallest. Alaska is the only state with a current average that is $1/gallon or more cheaper than a year ago, down from four states a week ago.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation and prices here are on the rise. Alaska (+9 cents) has the largest increase in the region, while Hawaii (+1 cent) has the smallest.

Rank Region Price on 6/9/2020
1 Hawaii $3.19
2 California $2.96
3 Washington $2.60
4 Oregon $2.51
5 Nevada $2.50
6 Alaska $2.36
7 Illinois $2.30
8 Pennsylvania $2.29
9 Idaho $2.28
10 Utah $2.28

Hawaii is most expensive for the 26th week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon. California, Washington, Oregon, Nevada, and Alaska round out the top 6. Arizona is 12th. After one week at fifth, Oregon moves back up to fourth most expensive.

According to EIA’s latest weekly report, total gas stocks in the region increased from 29.2 million bbl to 29.8 million bbl last week. Increasing stocks, alongside increasing demand, may help to slow pump price increases this week in the region.

Oil market dynamics

At the end of last week, crude prices increased amid market optimism that the Organization of the Petroleum Exporting Countries (OPEC) and other major crude exporters, including Russia, would extend their 9.7 million b/d production reduction agreement for May and June 2020 into July. Over the weekend, the cartel and its partners agreed to extend the deal for July, which is expected to reduce global crude supplies by nearly 10 percent while global crude oil demand remains low due to COVID-19. Crude prices will likely increase this week in reaction to OPEC’s announcement.

Additionally, approximately one third of crude oil and natural gas production in the Gulf of Mexico has been halted, as Tropical Depression Cristobal made landfall in Louisiana. There is no estimate for when the facilities will resume operations. Facilities will likely be inspected after the storm has passed to determine if personnel can return safely. Any impact on domestic crude prices will depend on how long production remains shuttered and the extent of damage caused by the storm.

At the end of Friday’s formal trading session, WTI increased by $2.14 to settle at $39.55 per barrel. At the end of Monday’s formal trading session, WTI fell $1.36 to settle at $38.19 per barrel. Today crude is trading around $38 compared to $36 a week ago. Crude prices are up about 55 percent in the last month and are about $16 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average adds a penny to $2.42 a gallon. Oregon’s average slips a penny to $2.57. A year ago the national average for diesel was $3.05 and the Oregon average was $3.27.

 

Updated 6/2/2020

Gas Prices Rise in Oregon, Nationwide as Driving Increases

Pump Prices at Cheapest Prices for Early June in more than a Decade

PORTLAND, Ore., – Pump prices continue to inch up but are still at the lowest prices for early June in more than a decade. For the week, the national average for regular ticks up two cents to $1.98 a gallon. The Oregon average also adds two cents to $2.45.

The last time the national average was less than $1.98 a gallon this time of year was in early June 2003 when it was $1.48 a gallon. The last time the Oregon average was below $2.45 this time of year was in early June 2005 when it was $2.35.

Rising demand for gas, shrinking gasoline stocks and increasing crude oil prices are putting upward pressure on pump prices. Gasoline demand is up seven percent week-over-week as states, including Oregon, begin to re-open. But demand is still down nearly 25 percent compared to last year, according to the U.S. Energy Information Administration.

“Traffic volumes are increasing here in Oregon and across the country as COVID-related restrictions are eased and states re-open for business. The good news is gas prices are still relatively cheap and AAA expects them to remain less expensive than last year.”

One factor that could spark a spike in gas prices is a major hurricane that impacts the Gulf of Mexico which accounts for 17 percent of total U.S. crude oil production.

Here in Oregon, the most recent report from ODOT (May 29) shows an average reduction of 21 percent in weekday traffic volumes and a 37 percent reduction in weekend volumes overall compared to last year at this time. Traffic has been steadily increasing over the past few weeks.

https://www.oregon.gov/odot/Data/Documents/ODOT_TrafficReport_May29_2020.pdf

The national average dropped to a low of $1.76 in April and the Oregon average fell to $2.38 in May before starting to rise again. The national average is now just a few cents away from returning to $2 a gallon while the Oregon average is inching back up to $2.50.

Oregon is one of 45 states and the District of Columbia with higher prices now compared to one week ago. Colorado (+13 cents) and Alaska (+13 cents) have the largest weekly increases. Wisconsin (-1 cent), Indiana (-1 cent) and Michigan (-1/2 cent) are the only three states with weekly decreases. Prices are flat in Illinois and Missouri.

Hawaii ($3.18) remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.60) and Louisiana ($1.65). This is the 12th week in a row that one or more states has an average below $2 a gallon. In all, 35 states are below that benchmark, down from 36 a week ago.

Oregon is one of 49 states with higher prices now than a month ago. The national average is 20 cents and the Oregon average is seven cents more than a month ago. Wisconsin (+47 cents) and Michigan (+44 cents) have the biggest month-over-month increases. The District of Columbia (-4 cents) and Hawaii (-1 cent) are the only areas with largest month-over-month decline.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 84 cents less and the Oregon average is 95 cents less than a year ago. Alaska (-$1.21) has the largest year-over-year drop. Hawaii (-47 cents) has the smallest. In all, four states have pump price averages that are $1/gallon or more cheaper than a year ago, down from eight a week ago.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation. Prices in the region increased for the week as stay-at-home orders were eased. Alaska (+13 cents) and California (+4 cents) have the largest weekly increases in the region, while Hawaii (+1 cent) has the smallest.

Hawaii is most expensive for the 25th week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon. California, Washington, Nevada, Oregon, and Alaska round out the top 6. Arizona is 12th. After 17 weeks at fourth most expensive, Oregon’s gas price falls one place to fifth.

Rank Region Price on 6/2/2020
1 Hawaii $3.18
2 California $2.91
3 Washington $2.54
4 Nevada $2.47
5 Oregon $2.45
6 Alaska $2.28
7 Utah $2.25
8 Pennsylvania $2.24
9 Illinois $2.23
10 Idaho $2.22

According to EIA’s latest weekly report, total gas stocks in the region decreased from 31 million bbl to 29.2 million bbl last week. Decreasing stocks may help to lift pump prices this week, if demand continues to rebound in the region.

Oil market dynamics

Crude prices spiked last week amid increased market optimism that demand for crude oil and refined products from it, including gasoline, may be rebounding. For this week, crude prices may continue to rise if the market believes that the 9.7 million b/d production reduction agreement for May and June 2020 between the Organization of the Petroleum Exporting Countries and other major crude exporters, including Russia, is helping to rebalance the global oil market as demand remains low due to COVID-19.

At the end of Friday’s formal trading session, WTI increased by $1.78 to settle at $35.49 per barrel. At the end of Monday’s formal trading session, WTI fell 5 cents to settle at $35.44 per barrel. Today crude is trading around $36 compared to $34 a week ago. Crude prices are up about 71 percent in the last month and are about $18 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average remains at $2.41 a gallon. Oregon’s average holds steady at $2.58. A year ago the national average for diesel was $3.08 and the Oregon average was $3.30.

 

Updated 5/26/2020

Rising Demand, Crude Oil Prices Push Pump Prices Higher

National Average just Pennies Away from $2, Oregon Average nears $2.50

PORTLAND, Ore., – Pump prices are climbing due to increasing demand as states reopen for business and higher crude oil prices. The national average is now just a few cents away from returning to $2 a gallon while the Oregon average is inching back up to $2.50. For the week, the national average for regular jumps seven cents to $1.96 a gallon. The Oregon average adds four cents to $2.44.

The national average dropped to a low of $1.76 in April and the Oregon average gas price fell to $2.38 earlier this month before starting to rise again.

The more expensive pump prices can be attributed to fluctuations in demand and crude oil prices. In the past week, crude oil hit its highest price point – nearly $34 per barrel – since the Trump Administration declared the COVID-19 outbreak a national emergency and many states started implementing stay-at-home restrictions. While demand has been increasing since the end of April, it is down 28 percent compared to the first three weeks of May last year.

“Gas prices have been significantly cheaper than normal for the past two months due to the coronavirus pandemic and stay-at-home orders. Now as states begin to re-open, pump prices are pushing more expensive,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “AAA expects gas prices to continue to rise, however prices should remain cheaper than last year.”

One factor that could cause a sudden spike in gas prices is the Atlantic hurricane season, which is June 1 through November 30. The National Oceanic and Atmospheric Administration predicts the 2020 season will be above-normal, potentially resulting in 13-19 named storms. An average Atlantic hurricane season typically produces 12 named storms, including 3 major hurricanes.

Oregon is one of 49 states with higher prices now compared to one week ago. Colorado (+17 cents) and Utah (+14 cents) have the largest weekly increases. The District of Columbia (-4 cents) and Hawaii (-1/2 cent) are the only areas with weekly declines.

Hawaii ($3.18) remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.58) and Arkansas ($1.62). This is the 11th week in a row that one or more states has an average below $2 a gallon. In all, 36 states are below that benchmark, down from 38 a week ago.

Oregon is one of 46 states with higher prices now than a month ago. The national average is 18 cents and the Oregon average is one cent more than a month ago. Wisconsin (+70 cents) and Ohio (+57 cents) have the biggest month-over-month increases. Montana (-5 cents) has the largest month-over-month decline.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 87 cents less and the Oregon fuel price average is 99 cents less than a year ago. Alaska (-$1.34) has the largest year-over-year drop. Hawaii (-48 cents) has the smallest. In all, eight states have pump price averages that are $1/gallon or more cheaper than a year ago, down from 20 a week ago.

Oregonians can no longer pump their own gas, except in certain coastal and rural areas. The temporary suspension for rules allowing self-service gas expired late Saturday. The rule had been suspended due to the coronavirus to ensure that essential workers would have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/programs/sfm/Pages/Self-Service-Rules-Change-FAQs.aspx

West Coast

Pump prices in the West Coast region increased last week, pushing state averages up in the region. Arizona (+8 cents), Alaska (+7 cents) and California (+6 cents) saw the largest increases in the region.

Hawaii is most expensive for the 24th week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon. California, Washington, Oregon, and Nevada round out the top 5 and Arizona is 10th. Alaska is 11th for the third week in a row. Oregon is fourth most expensive for the 17th week in a row.

Rank Region Price on 5/26/2020
1 Hawaii $3.17
2 California $2.87
3 Washington $2.51
4 Oregon $2.44
5 Nevada $2.42
6 Illinois $2.23
7 Pennsylvania $2.23
8 New York $2.18
9 Utah $2.17
10 Arizona $2.16

According to EIA’s latest weekly report, total gas stocks in the region increased slightly from 30.8 million bbl to 31 million bbl last week. As gas demand continues to grow in the region, increasing stocks may help to slow price increases, barring any supply challenges.

Oil market dynamics

Crude prices generally increased last week then lost some ground on Friday due to tension between Hong Kong and China. There’s growing market optimism that domestic crude demand continues to rebound as more states ease stay-at-home restrictions and demand for gasoline has grown. For this week, crude prices may continue to rise if the market believes that the 9.7 million b/d production reduction agreement for May and June 2020 between the Organization of the Petroleum Exporting Countries and other major crude exporters, including Russia, is helping to rebalance the global oil market as demand remains low due to COVID-19.

At the end of Friday’s formal trading session, WTI decreased by 67 cents to settle at $33.25 per barrel. Markets were closed Monday in observance of Memorial Day. Today crude is trading around $34 compared to $31 a week ago. Crude prices are up about 162 percent in the last month and are about $31 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average remains at $2.41 a gallon. Oregon’s average adds two cents to $2.58. A year ago the national average for diesel was $3.10 and the Oregon average was $3.31.

 

Updated 5/19/2020

Pump Prices Climb ahead of Memorial Day as Demand Rises

Drivers to see Cheapest Memorial Day Pump Prices in Nearly Two Decades

PORTLAND, Ore., – Retail gas prices continue to climb across the country with nearly every state’s average moving higher. But drivers are enjoying the lowest gas prices for Memorial Day since the 2000s. For the week, the national average for regular adds four cents to $1.89 a gallon. The Oregon average inches up a cent to $2.40.

The last time the national gas price average leading into the Memorial Day holiday was under $2 a gallon was 17 years ago in 2003. That year drivers paid, on average, $1.50 to fill-up. The last time the Oregon average was at or below $2.40 for Memorial Day was 15 years ago in 2005 when the average was $2.35. Gas prices this year won’t be as cheap, but prices are about a dollar a gallon less than a year ago.

Memorial Day gas prices 2010-19

“Memorial Day is usually the unofficial kick-off to the summer travel season. But because of the coronavirus pandemic, most Americans and Oregonians are staying home this year,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Despite cheap gas prices, AAA expects this Memorial Day holiday to set a record low for travel volume. Although travel restrictions are easing in most states, many areas simply aren’t ready yet to welcome tourists with open arms. And many would-be travelers aren’t quite ready to hit the road yet, either.”

For the first time in 20 years, AAA will not issue a Memorial Day travel forecast due to COVID-19. Find details in the holiday news release. This summer and fall, AAA expects domestic travel and road trips to be some of the first post-coronavirus outings.

Gas prices will continue to push more expensive, according to AAA, with the national average possibly hitting $2 a gallon in the next few weeks. This is mostly due to demand increasing as states re-open. This week will also bring the Environmental Protection Agency’s waiver on the sale of winter-blend gasoline to an end. Stations will switch over to summer-blend gasoline, which has a lower Reid Vapor Pressure to prevent excessive evaporation when outside temperatures rise. Reducing the volatility of summer gas decreases emissions that contribute to unhealthy ozone and smog levels. Typically, the switchover to summer-blend can cause gas prices to spike during the summer driving season, but that will likely not be the case this year due to the impact of COVID-19 on demand and crude oil prices.

Demand for gasoline in the U.S. is rising but still well below last year’s levels. According to the U.S. Energy Information Administration (EIA), demand for gasoline increased by 730,000 b/d to 7.4 million b/d last week, compared to 9.1 million b/d a year ago. Gas demand is expected to continue to grow, leading pump prices to continue their increase.

Oregon is one of 47 states with higher prices now compared to one week ago. Idaho (+16 cents) and Pennsylvania (+8 cents) have the largest weekly increases. The District of Columbia (-1 cent) has the largest weekly decline.

Hawaii ($3.18) remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($1.52) and Arkansas ($1.54). This is the 10th week in a row that one or more states has an average below $2 a gallon. In all, 38 states are below that benchmark, down from 39 a week ago.

Oregon is one of 23 states with lower prices now than a month ago. The national average is seven cents more and the Oregon average is nine cents less than a month ago. This is the fifth-largest monthly decline in the nation. Arizona (-14 cents) has the largest month-over-month decline while North Dakota (-1/2 cent) has the smallest. Wisconsin (+57 cents) and Ohio (+46 cents) have the biggest month-over-month increases.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 96 cents less and the Oregon average is $1.04 less than a year ago. Alaska (-$1.39) has the largest year-over-year drop. Hawaii (-47 cents) has the smallest. In all, 20 states have pump price averages that are $1/gallon or more cheaper than a year ago, down from 22 a week ago.

A reminder that Oregonians can temporarily pump their own gas due to the coronavirus outbreak and this has been extended through May 23. Stations aren’t required to offer self-serve gas, but it is allowed in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/programs/sfm/Pages/Self-Service-Rules-Change-FAQs.aspx

West Coast

Pump prices in the West Coast region are among the most expensive in the country, with more increases expected as states in the region ease restrictions.

Hawaii is most expensive for the 23rd week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon. California, Washington, Oregon, and Nevada round out the top 5 and Arizona is 10th. Alaska is 11th for the second week in a row. Oregon is fourth most expensive for the 16th week in a row.

Rank Region Price on 5/19/2020
1 Hawaii $3.18
2 California $2.81
3 Washington $2.47
4 Oregon $2.40
5 Nevada $2.36
6 District of Columbia $2.17
7 New York $2.17
8 Pennsylvania $2.16
9 Illinois $2.14
10 Arizona $2.09

California (+4 cents) and Nevada (+4 cents) have the largest increases in the region. Arizona (+ 1/2 cent) has the smallest.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 31.2 million bbl to 30.8 million bbl last week. As more drivers take to the roads in the region this week, gas demand is expected to continue to grow. Higher gas demand, amid falling gas stocks, will likely lead pump prices to increase this week.

Oil market dynamics

Crude prices increased last week and moved higher to start this week. Investors are optimistic that crude demand will continue to rebound as more states re-open and demand for gasoline has grown in recent weeks. For this week, crude prices may continue to rise if the market believes that the 9.7 million b/d production reduction agreement for May and June 2020 between the Organization of the Petroleum Exporting Countries and other major crude exporters, including Russia, is helping to rebalance the global oil market as demand remains low due to COVID-19.

At the end of Friday’s formal trading session, WTI increased by $1.87 cents to settle at $29.43 per barrel. At the close of Monday’s formal trading session on the NYMEX, WTI gained $2.39 to $31.82. Today crude is trading around $31 compared to $26 a week ago. Crude prices are up about 248 percent in the last month and are about $31 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average slips a penny to $2.41 a gallon. Oregon’s average holds steady at $2.56. A year ago the national average for diesel was $3.10 and the Oregon average was $3.31.

 

Updated 5/12/2020

National, Oregon Pump Prices Push Higher as Gasoline Demand Grows

PORTLAND, Ore., – Retail gas prices are rising in most states including Oregon as demand grows and stocks decrease. Some states are seeing double-digit increases while the West Coast states are seeing much smaller gains or steady prices. For the week, the national average for regular jumps seven cents to $1.85 a gallon. The Oregon average ticks up half a cent to $2.38.

“As most states re-open some businesses and ease stay-at-home restrictions that were put in place to slow the spread of COVID-19, demand for gasoline is on the rise and that’s sending pump some pump prices higher. Drivers in the Great Lakes, Central, South and Southeast are seeing the most volatility,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Demand for gasoline in the U.S. is rising but still well below last year’s levels. According to the U.S. Energy Information Administration (EIA), demand for gasoline increased by 800,000 b/d to 6.7 million b/d last week which is 3.2 million b/d less than last year at this time. Gas demand is expected to continue to grow, leading pump prices to continue their increase.

Oregon is one of 44 states and the District of Columbia with higher prices compared to one week ago. Several Great Lakes and Central states saw double-digit increases. This region routinely sees pump price fluctuation, so it is no surprise to see significant increases there as many states begin to re-open. Michigan (+29 cents) and Ohio (+27 cents) have the largest weekly increases. Wyoming (-2 cents) has the largest weekly decline.

Hawaii ($3.17) remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Oklahoma ($1.50) and Arkansas ($1.50). This is the ninth week in a row that one or more states has an average below $2 a gallon. In all, 39 states are below that benchmark, down from 41 a week ago.

Oregon is one of 40 states with lower prices now than a month ago. The national average is one cent less and the Oregon average is 17 cents less than a month ago. This is the fifth-largest monthly decline in the nation. Utah (-23 cents) has the largest month-over-month decline while Tennessee (-2 cents) has the smallest. Wisconsin (+41 cents) and Ohio (+39 cents) have the biggest month-over-month increases.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is $1.01 less and the Oregon average is $1.05 less than a year ago. Alaska (-$1.40) has the largest year-over-year drop. Hawaii (-47 cents) has the smallest. In all, 22 states have pump price averages that are $1/gallon or more cheaper than a year ago, with another 23 states within a dime of reaching this mark.

A reminder that Oregonians can temporarily pump their own gas due to the coronavirus outbreak and this has been extended through May 23. Stations aren’t required to offer self-serve gas, but it is allowed in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/programs/sfm/Pages/Self-Service-Rules-Change-FAQs.aspx

West Coast

As some regions are seeing some major price jumps, state averages in the West Coast region have mostly held steady or increased minimally. But the West Coast still has some of the most expensive gas prices in the country. .all states in the West Coast region continue to see pump prices decline, albeit slower than a month ago.

Rank Region Price on 5/12/2020
1 Hawaii $3.17
2 California $2.77
3 Washington $2.45
4 Oregon $2.38
5 Nevada $2.32
6 District of Columbia $2.18
7 New York $2.16
8 Illinois $2.12
9 Arizona $2.08
10 Pennsylvania $2.08

Hawaii is most expensive for the 22nd week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon. California, Washington, Oregon, and Nevada round out the top 5. Arizona is ninth and Alaska falls out of the top 10, moving from 10th last week to 11th this week. Oregon is fourth most expensive for the 15th week in a row.

Arizona (+4 cents) has the largest gain in the region while and Oregon (-4 cents) have the biggest weekly declines in the region while Arizona (-1 cent) has the largest decline.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 32.7 million bbl to 31.2 million bbl last week. As more drivers take to the roads in the region this week, gas demand is expected to continue to grow. Higher gas demand could lead pump prices to increase this week.

Oil market dynamics

Crude prices increased last week and are also higher today. There’s growing market optimism that crude demand is rebounding as states re-open businesses and demand for gasoline has grown in recent weeks. For this week, crude prices may continue to rise if the market believes that crude oil inventories are beginning to rebalance. However, if crude storage levels continue to increase, crude prices could decline if the market continues to worry that the global market is oversupplied.

At the end of Friday’s formal trading session, WTI increased by $1.19 cents to settle at $24.74 per barrel. At the close of Monday’s formal trading session on the NYMEX, WTI fell 60 cents to $24.14. Today crude is trading around $26 compared to $24 a week ago. Crude prices are up about 16 percent in the last month and are about $38 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average slips a penny to $2.42 a gallon. Oregon’s average loses two cents to $2.56. A year ago the national average for diesel was $3.10 and the Oregon average was $3.30.

 

Updated 5/5/2020

Oregonians Pay Less at the Pumps this Week while Prices Rise in Other States

PORTLAND, Ore., – Most states including Oregon continue to see pump prices fall, but 10 states are seeing prices jump and that sent the national average a bit higher. For the week, the national average for regular adds two cents to $1.79 a gallon. The Oregon average loses four cents to $2.38.

The national average is at its lowest price since March 2016 and the Oregon average is at its lowest price since May 2016.

“As some states ease stay-at-home restrictions that were put in place to slow the spread of the coronavirus and re-open some businesses, gasoline demand is increasing which puts upward pressure on pump prices. AAA expects prices will continue to fluctuate across the country in the coming weeks as people begin driving more,“ says Marie Dodds, public affairs director for AAA Oregon/Idaho.

According to the U.S. Energy Information Administration (EIA), demand for gas in the U.S. is up slightly to 5.9 million b/d, but still about 40 percent less than early May 2019 when demand was about 9.5 million b/d. Increasing demand caused U.S. gasoline stock levels to decrease for the week by 3.6 million bbl to 260 million bbl.

Oregon is one of 40 states and the District of Columbia with lower prices compared to one week ago. Some Great Lakes and Central states saw double-digit increases as they phased in the reopening of businesses, but all other states saw declines of six cents or less. Utah (-6 cents) has the largest weekly decrease. Wisconsin (+33 cents) has the largest jump.

Hawaii ($3.18) remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Oklahoma ($1.38) and Arkansas ($1.40). This is the eighth week in a row that one or more states has an average below $2 a gallon. In all, 41 states are below that benchmark, up from 39 a week ago.

Oregon is one of 48 states and the District of Columbia with lower prices now than a month ago. The national average is 15 cents less and the Oregon average is 27 cents less than a month ago. Alaska (-42 cents) has the largest month-over-month decline while Indiana (-3 cents) has the smallest. Wisconsin (+8 cents) and Ohio (+2 cents) are the only two states with month-over-month increases.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is $1.11 less and the Oregon average is $1.05 less than a year ago. Alaska (-$1.41) has the largest year-over-year drop. Hawaii (-46 cents) has the smallest. In all, 37 states have pump price averages that are $1/gallon or more cheaper than a year ago, with another 10 states within a dime of reaching this mark.

A reminder that Oregonians can temporarily pump their own gas due to the coronavirus outbreak and this has been extended through May 9. Stations aren’t required to offer self-serve gas, but it is allowed in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/programs/sfm/Pages/Self-Service-Rules-Change-FAQs.aspx

West Coast

As some regions are seeing prices increase, all states in the West Coast region continue to see pump prices decline, albeit slower than a month ago.

Rank Region Price on 5/5/2020
1 Hawaii $3.18
2 California $2.74
3 Washington $2.44
4 Oregon $2.38
5 Nevada $2.31
6 District of Columbia $2.17
7 New York $2.16
8 Arizona $2.09
9 Pennsylvania $2.03
10 Alaska $2.01

Hawaii is most expensive for the 21st week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon. California, Washington, Oregon, and Nevada round out the top 5. Arizona is eighth and Alaska is 10th. Oregon is fourth most expensive for the 14th week in a row.

Arizona (-4 cents) and Oregon (-4 cents) have the biggest weekly declines in the region while Alaska (-2 cents) has the smallest.

Oil market dynamics

Crude prices increased last week and also started this week with a gain. There’s growing market optimism that an oversupply of crude may be beginning to decrease, as demand for gasoline moves up and the 9.7 million b/d production reduction agreement between the Organization of the Petroleum Exporting Countries and other major crude producers, including Russia, takes effect this month and next month.

For this week, crude prices started the week with a gain and may continue to rise if EIA’s report this week shows continued growth in gasoline demand and crude production and storage data show that global rebalancing efforts are helping to stabilize the market, as global crude demand remains low due to the ongoing COVID-19 pandemic.

At the end of Friday’s formal trading session, WTI increased by 94 cents to settle at $19.78 per barrel. At the close of Monday’s formal trading session on the NYMEX, WTI added 61 cents to $20.39. Today crude is trading around $24 compared to $12 a week ago. Crude prices are down about eight percent in the last month and are about $42 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average slips two cents to $2.43 a gallon. Oregon’s average loses four cents to $2.58. A year ago the national average for diesel was $3.11 and the Oregon average was $3.30.

 

Updated 4/28/2020

Oregon one of only 11 states with an Average above $2 a Gallon

Oregon has 5th-largest weekly decline in the nation

PORTLAND, Ore., – Pump prices continue to edge lower across the country. Only 11 states, including Oregon, still have averages of $2 a gallon or more. For the week, the national average for regular unleaded loses four cents to $1.77 a gallon. The Oregon average falls six cents to $2.41. This is tied for the fifth-largest weekly drop in the nation.

The national average is at its lowest price since March 2016 and the Oregon average is at its lowest price since December 2016.

“AAA expects pump prices to continue to decrease into next month with the national average possibly dropping as low as $1.65 and the Oregon average falling to $2.30,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Some states could see minimal fluctuation at the pump in coming weeks if demand jumps as business are given the green light to re-open. However, this will not have a large impact for the majority of the nation’s drivers.

Crude oil prices plunged into negative territory last week for the first time ever but made significant gains to end the week in the positive. Meanwhile, demand for gasoline is up slightly but still down about 40 percent compared to last year. The U.S. Energy Information Administration (EIA) reports demand at 5.3 million b/d, up from 5.1 b/d the previous week. This compares to last April’s 9.45 million b/d average. Low demand pushed gasoline stocks to increase for yet another week, this time by 1 million bbl to put total U.S. stock levels at 263 million bbl.

Pump prices are lower this week in all 50 states including Oregon. Alaska (-8 cents) and Idaho (-8 cents) have the largest weekly drops while Wisconsin (-2 cents) has the smallest. The District of Columbia (+1 cent) is the only area to show a weekly increase.

Hawaii remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Wisconsin ($1.20) and Oklahoma ($1.37). This is the seventh week in a row that one or more states has an average below $2 a gallon. In all, 39 states are below that benchmark, same as a week ago.

Oregon is one of all 50 states and the District of Columbia with lower prices now than a month ago. The national average is 27 cents less and the Oregon average is 31 cents less than a month ago. Alaska (-55 cents) has the largest month-over-month decline. The District of Columbia (-12 cents) has the smallest.

Oregon is one of 50 states and the District of Columbia where drivers are paying less than a year ago. The national average is $1.12 less and the Oregon average is 99 cents less than a year ago. Wisconsin (-$1.64) has the largest year-over-year drop. Hawaii (-43 cents) has the smallest. In all, 33 states have pump price averages that are $1/gallon or more cheaper than a year ago, with another 13 states within a dime of reaching this mark.

A reminder that Oregonians can temporarily pump their own gas due to the coronavirus outbreak and this has been extended through May 9. Stations aren’t required to offer self-serve gas, but it is allowed in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/programs/sfm/Pages/Self-Service-Rules-Change-FAQs.aspx

West Coast

The West Coast region continues to have the most expensive state averages in the country but is also seeing significant weekly drops.

Rank Region Price on 4/28/2020
1 Hawaii $3.20
2 California $2.76
3 Washington $2.46
4 Oregon $2.41
5 Nevada $2.33
6 New York $2.17
7 District of Columbia $2.17
8 Arizona $2.13
9 Pennsylvania $2.04
10 Utah $2.04

Hawaii is most expensive for the 20th week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon. California, Washington, Oregon, and Nevada round out the top 5. Arizona is eighth and Alaska drops out of the top 10 this week, falling from ninth to 11th. Oregon is fourth most expensive for the 13th week in a row.

Alaska (-8 cents) has the biggest weekly decline in the region (and the nation) while Hawaii (-3 cents) has the smallest.

According to EIA’s latest weekly report, total gas stocks in the region decreased slightly from 35 million bbl to 34.7 million bbl last week. Low crude prices and gas demand will likely help to push pump prices lower in the region this week.

Oil market dynamics

Crude prices are back in positive territory after turning negative last week for the first time since trading in 1983. Last week’s decline in prices has been attributed to many factors, including the inability of market traders who owned oil futures to find other market participants to sell their futures contracts to and limited available crude storage options.

Crude prices started to push more expensive by the end of last week in response to reports of the Organization of the Petroleum Exporting Countries reducing crude output before the May 1 start date of its 9.7 million b/d production reduction agreement for May and June 2020. Crude prices will likely remain volatile this week, as the market continues to assess how much crude demand will continue to fall during the ongoing pandemic.

At the end of Friday’s formal trading session, WTI increased by 44 cents to settle at $16.94 per barrel. At the close of Monday’s formal trading session on the NYMEX, WTI fell $4.16 to $12.78. Today crude is trading around $12 compared to $10 a week ago. Crude prices are down about 40 percent in the last month and are about $51 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls four cents to $2.45 a gallon. Oregon’s average loses five cents to $2.62. A year ago the national average for diesel was $3.10 and the Oregon average was $3.29.

 

Updated 4/21/2020

Pump Prices Fall as U.S. Crude Oil Prices Plunge into Negative Territory for First Time in History

Gasoline Stocks Grow to Highest Level Ever Recorded

PORTLAND, Ore., – U.S. crude oil prices plummeted into negative territory Monday for the first time in history. West Texas Intermediate tumbled down to -$37.63 a barrel for crude oil that was to be delivered in May. Oil stocks have grown so much that oil producers have run out of space.

At the same time, gasoline stocks in the U.S. have grown to their highest levels ever recorded. The latest report from the U.S. Energy Information Administration (EIA) shows total stock levels at 262 million barrels—this is the highest weekly domestic stock level ever recorded by the EIA since it began reporting the data in 1990.

The growing supplies and dramatic drop in demand due to the coronavirus pandemic continue to send gas prices lower. For the week, the national average for regular unleaded loses four cents to $1.81 a gallon. The Oregon average falls seven cents to $2.47. This is the seventh-largest weekly drop in the nation.

The national average is at its lowest price since March 2016 and the Oregon average is at its lowest price since December 2016.

On the week, U.S. gasoline demand was stable at 5.1 million b/d as refinery rates dipped down to 69%, a level not reported by the Energy Information Administration (EIA) in more than a decade. In April 2019, demand was about 9.4 million b/d.

“Due to plummeting crude oil prices, increasing gasoline stocks and a huge drop in demand due to the coronavirus pandemic, AAA expects gas prices to continue to decline,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Pump prices are lower this week in all 50 states including Oregon and the District of Columbia. Idaho (-10 cents) and Alaska (-10 cents) have the largest weekly drops while Oklahoma (-1 cent) has the smallest.

Hawaii remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Wisconsin ($1.22) and Oklahoma ($1.39). This is the sixth week in a row that one or more states has an average below $2 a gallon. In all, 39 states are below that benchmark up from 37 states a week ago.

Oregon is one of all 50 states and the District of Columbia with lower prices now than a month ago. The national average is 35 cents less and the Oregon average is 37 cents less than a month ago. Wisconsin (-67 cents) has the largest month-over-month decline. New York (-21 cents) has the smallest.

Oregon is one of 50 states and the District of Columbia where drivers are paying less than a year ago. The national average is $1.04 less and the Oregon average is 89 cents less than a year ago. Wisconsin (-$1.61) has the largest year-over-year drop. Hawaii (-36 cents) has the smallest. In all, 21 states have pump price averages that are $1/gallon or more cheaper than a year ago, with another 13 states within a dime of reaching this mark.

A reminder that Oregonians can temporarily pump their own gas due to the coronavirus outbreak and this has been extended through April 25. Stations aren’t required to offer self-serve gas, but it is allowed in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/programs/sfm/Pages/Self-Service-Rules-Change-FAQs.aspx

West Coast

The West Coast region continues to have the most expensive state averages in the country but is also seeing large weekly drops.

Rank Region Price on 4/21/2020
1 Hawaii $3.24
2 California $2.80
3 Washington $2.51
4 Oregon $2.47
5 Nevada $2.38
6 New York $2.22
7 Arizona $2.21
8 District of Columbia $2.16
9 Alaska $2.10
10 Utah $2.10

Hawaii is most expensive for the 19th week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon.  California, Washington, Oregon, Nevada rounding out the top 5. Arizona is seventh and Alaska is ninth. Oregon is fourth most expensive for the 12th week in a row.

Alaska (-10 cents) has the biggest weekly decline in the region while Hawaii (-2 cents) has the smallest.

According to EIA’s latest weekly report, total gas stocks in the region increased from 34.9 million bbl to 35 million bbl last week. The increase in supply, alongside low crude prices and gas demand, will likely help to push pump prices lower in the region this week.

Additionally, Marathon Petroleum announced that it would temporarily idle its 166,000 b/d refinery in Martinez, CA later this month due to weak demand caused by COVID-19. According to the company, as of April 27, it will use an “integrated network of assets to continue meeting customer commitments and [does] not anticipate supply disruptions in the region.” Marathon did not announce a timeline for when the refinery could expect to resume operations, but it did state that it intends to resume “once demand levels support doing so.”

Oil market dynamics

Crude oil prices continue their freefall. West Texas Intermediate plunged down into negative territory to -$37.63 Monday for the first time in history. The record low close in the May contract for WTI came because there’s no room to store those barrels of oil for a May delivery. The contract for June delivery dropped as well but ended at about $22 per barrel. The expiration of futures along with trading and speculation helped to create this unusual situation.

Crude prices will continue to be volatile as global markets continue to assess the public health, economic and financial impact of COVID-19. WTI started this year around $60 per barrel.

Crude prices also moved up and down last week in the wake of a historic 9.7-million b/d crude oil production reduction agreement for May and June 2020 between the Organization of the Petroleum Exporting Countries and its allies, including Russia. As oil inventories continue to grow around the globe and crude demand falls worldwide, crude prices have dropped dramatically. Crude prices will likely remain volatile this week, as the market continues to assess how low crude prices could fall during the ongoing pandemic.

At the end of Friday’s formal trading session, WTI decreased by $1.60 to settle at $18.12 per barrel. At the close of Monday’s formal trading session on the NYMEX, WTI plummeted $55.90 to -$37.63. Today crude is trading around $11 compared to $21 a week ago. Crude prices are down about 49 percent in the last month and are about $53 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls three cents to $2.49 a gallon. Oregon’s average loses six cents to $2.68. A year ago the national average for diesel was $3.08 and the Oregon average was $3.26.

 

Updated 4/14/2020

Demand for Gasoline in U.S. Drops to 52-year Low

Oregon Average at lowest price since February 2017

PORTLAND, Ore., – Gasoline demand in the U.S. is plummeting to levels not seen since the spring of 1968. Due to the coronavirus pandemic, every region in the country is seeing gasoline and crude oil inventories increasing which is driving down pump prices even more. For the week, the national average for regular unleaded falls seven cents to $1.85 a gallon. The Oregon average tumbles eight cents to $2.54.

The national average is at its lowest price since March 2016, and the Oregon average is at its lowest price since February 2017.

The latest report from the U.S. Energy Information Administration (EIA) shows gasoline demand across the country has plunged 44 percent to 5 million b/d—a level last seen in the spring of 1968. A year ago, demand was about 9.5 million b/d.

On Sunday, the Organization of the Petroleum Exporting Countries plus (OPEC+), led by Saudi Arabia, announced historic global crude productions cuts – nearly 10 million b/d in May and June.

“This is a major production cut and in normal times, it would send crude oil and fuel prices higher. However, with the ongoing impact of the COVID-19 pandemic, it’s not likely to have an immediate impact on pump prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Pump prices are lower this week in all 50 states including Oregon and the District of Columbia. Alaska (-20 cents) and Idaho (-16 cents) have the largest weekly drops while Delaware (-3 cents) has the smallest.

Hawaii remains the only state in the nation with an average at or above $3 a gallon.

The cheapest gas in the nation can be found in Wisconsin ($1.29) and Oklahoma ($1.40). This is the fifth week in a row that one or more states has an average below $2 a gallon. In all, 37 states are below that benchmark up from 33 states a week ago.

Oregon is one of all 50 states and the District of Columbia with lower prices now than a month ago. The national average is 43 cents less and the Oregon average is 39 cents less than a month ago. Wisconsin (-82 cents) has the largest month-over-month decline. New York (-26 cents) has the smallest.

Oregon is one of 50 states and the District of Columbia where drivers are paying less than a year ago. The national average is 98 cents less and the Oregon average is 75 cents less than a year ago. Wisconsin (-$1.51) has the largest year-over-year drop. Hawaii (-31 cents) has the smallest.

A reminder that Oregonians can temporarily pump their own gas due to the coronavirus outbreak and this has been extended through April 25. Stations aren’t required to offer self-serve gas, but it is allowed in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/programs/sfm/Pages/Self-Service-Rules-Change-FAQs.aspx

West Coast

The West Coast region continues to have the most expensive state averages in the country but is also seeing big weekly drops.

Rank Region Price on 4/14/2020
1 Hawaii $3.26
2 California $2.86
3 Washington $2.58
4 Oregon $2.54
5 Nevada $2.45
6 Arizona $2.27
7 New York $2.25
8 Alaska $2.20
9 District of Columbia $2.18
10 Utah $2.17

Hawaii is most expensive for the 18th week in a row and as mentioned above remains the only state in the nation with an average at or above $3 a gallon.  California, Washington, Oregon, Nevada, and Arizona round out the top 6. Alaska is eighth. Oregon is fourth most expensive for the 11th week in a row.

Alaska (-20 cents) has the biggest decline in the region while Hawaii (-5 cents) has the smallest.

According to EIA’s latest weekly report, total gas stocks in the region increased from 34.06 million bbl to 34.9 million bbl last week. The increase in supply, alongside low crude prices and demand, will likely help to push pump prices lower in the region this week.

Oil market dynamics

Crude prices were volatile last week, during the run-up to OPEC’s historic agreement with its allies, including Russia. The group met to discuss global crude productions cuts of up to 9.7 million b/d for May and June 2020. Under the new production reduction agreement, OPEC and its allies expect total global oil cuts to amount to more than 20 million b/d or 20 percent of global supply. Effective May 1, the production cuts are expected to ease in June, but some restrictions will remain in place through April 2022.

Crude prices will likely remain volatile this week, as the market assesses if the production cuts are sufficient to hold back growing global crude inventories as COVID-19 continues to push down demand.

At the end of Thursday’s formal trading session, WTI decreased by $2.33 to settle at $22.76 per barrel. (Markets were closed Friday due to Good Friday). At the close of Monday’s formal trading session on the NYMEX, WTI fell 35 cents to $22.41. Today crude is trading around $21 compared to $24 a week ago. Crude prices are down about 26 percent in the last month and are about $41 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls four cents to $2.52 a gallon. Oregon’s average loses seven cents to $2.74. A year ago the national average for diesel was $3.07 and the Oregon average was $3.21.

 

Updated 4/7/2020

Gas Prices Continue their Freefall due to Plummeting Demand

Oregon Average Drops to three-year Low

PORTLAND, Ore., – Demand for gasoline in the U.S. has fallen to its lowest level since 1993 as Americans are urged to stay at home because of the coronavirus pandemic. Pump prices are falling in all 50 states. For the week, the national average for regular unleaded loses eight cents to $1.92 a gallon. The Oregon average also falls eight cents to $2.62.

The national average is at its lowest price since January 2016, and the Oregon average is at its lowest price since March 2017.

Demand for gas in the U.S. has fallen to a 27-year low. The latest weekly report from the U.S. Energy Information Administration (EIA) puts demand at 6.7 million b/d – that’s the lowest point since 1993. “Gasoline demand is expected to remain low as the majority of states have stay-at-home orders. This will continue to put downward pressure on pump prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Crude oil prices started to increase at the end of last week; however this is not expected to have a major impact on gas prices in the short term because of the very low demand. Market analysts are also keeping an eye on refinery rates. The U.S. refinery utilization average is down to 82%, a low not seen since September 2017 in the wake of Hurricane Harvey. Given the drop in crude oil and gasoline demand, which is expected to push even lower, refineries are reducing production in hopes this could help to balance the amount of gasoline supply in the country.

Pump prices are lower this week in Oregon and all 50 states and the District of Columbia. Idaho (-15 cents) has the largest weekly drop while the District of Columbia (-2 cents) has the smallest.

This week there’s only one state, Hawaii, with an average at or above $3 a gallon. California has dropped below the $3 mark.

The cheapest gas in the nation can be found in Wisconsin ($1.42) and Oklahoma ($1.47). This is the fourth week in a row that one or more states has an average below $2 a gallon. In all, 33 states are below that benchmark.

Oregon is one of all 50 states and the District of Columbia with lower prices now than a month ago. The national average is 48 cents less and the Oregon average is 36 cents less than a month ago. Wisconsin (-86 cents) has the largest month-over-month decline. Hawaii (-25 cents) has the smallest.

Oregon is one of 50 states and the District of Columbia where drivers are paying less than a year ago. The national average is 82 cents less and the Oregon average is 54 cents less than a year ago. Wisconsin (-$1.32) has the largest year-over-year drop. Hawaii (-20 cents) has the smallest.

A reminder that Oregonians can temporarily pump their own gas due to the coronavirus outbreak. Oregon State Fire Marshall Jim Walker made the announcement in a news release. Stations aren’t required to offer self-serve gas, but it is allowed until Aril 11 in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations. https://www.oregon.gov/osp/Docs/SelfServeRuleChangePressReleaseMarch282020.pdf

West Coast

Although the West Coast region continues to have the most expensive state averages in the country, it is also seeing big weekly drops.

Rank Region Price on 4/7/2020
1 Hawaii $3.31
2 California $2.95
3 Washington $2.67
4 Oregon $2.62
5 Nevada $2.55
6 Alaska $2.40
7 Arizona $2.36
8 New York $2.29
9 Utah $2.26
10 District of Columbia $2.24

Hawaii is most expensive for the 17th week in a row and as mentioned above is now the only state in the nation with an average at or above $3 a gallon.  California, Washington, Oregon, Nevada, Alaska, and Arizona round out the top seven. Oregon is fourth most expensive for the 10th week in a row.

Alaska (-10 cents) has the biggest decline in the region while Hawaii (-5 cents) has the smallest.

According to EIA’s latest weekly report, total gas stocks in the region increased from 30.97 million bbl to 34.06 million bbl last week. The significant increase in supply, alongside low crude prices and demand, will likely help to push pump prices lower in the region this week.

Oil market dynamics

Domestic crude prices increased at the end of last week, then fell to start this week. Prices rose following news that the Organization of the Petroleum Exporting Countries (OPEC) and its partners, including Russia, planned to hold an emergency meeting yesterday to discuss potential crude production cuts amid the global oversupply caused by COVID-19. However, OPEC and its partners have moved the meeting to this Thursday, April 9. Crude prices are likely to remain volatile this week until the meeting, where the market will be looking to see if production cuts are enacted and if they are drastic enough to curb the growing oversupply of crude in the global market.

At the end of Friday’s formal trading session, WTI increased by $3.02 to settle at $28.34 per barrel. At the close of Monday’s formal trading session on the NYMEX, WTI fell $2.26 to $26.08. Today crude is trading around $26 compared to $20 a week ago. Crude prices are down about 14 percent in the last month and are about $37 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls four cents to $2.56 a gallon. Oregon’s average loses six cents to $2.81. A year ago the national average for diesel was $3.04 and the Oregon average was $3.16.

 

Updated 3/31/2020

National Average Drops Below $2 a Gallon for First Time since March 2016

Oregon Average Falls to Lowest Price since June 2017, and Oregonians can temporarily pump their own gas

PORTLAND, Ore., – The national average for a gallon of gas is below $2 gallon for the first time in four years. Pump prices continue their freefall due to the coronavirus and the ongoing oil price war between Saudi Arabia and Russia. For the week, the national average for regular unleaded drops 11 cents to $1.99 a gallon. The Oregon average tumbles a dime to $2.70.

The national average is at its lowest price since March 2016, and the Oregon average is at its lowest price since June 2017.

The decline is due to COVID-19’s chilling effect on the global economy and the crude oil price war between Saudi Arabia and Russia. Crude has plummeted to $20/bbl – a closing price not seen since 2002. For the last 52 weeks, crude oil (West Texas Intermediate) has averaged $56/bbl.

“AAA expects gas prices to keep dropping as cheap crude combines with the shrinking demand for gas as people stay home due to the coronavirus outbreak. The national average will likely fall to $1.75 or less in April while the Oregon average should decline to $2.50 or less,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregonians can temporarily pump their own gas due to the coronavirus outbreak. Oregon State Fire Marshall Jim Walker made the announcement in a news release. Stations aren’t required to offer self-serve gas, but it is allowed until Aril 11 in order to reduce contact that could spread COVID-19, and ensure essential workers have access to fuel during potential staffing shortages at gas stations.

Demand for gas is down substantially, decreasing to levels that are typically seen during the winter driving season, not in early spring. While demand is diminishing, COVID-19 is not impacting the U.S. gasoline supply. The U.S. has an unusual amount of winter-blend gasoline still available for this time of year. This caused the Environmental Protection Agency (EPA) to extend the sale of winter-blend past the May 1 deadline to May 20. The agency said they would continue to monitor and may extend the waiver again.

“Delaying the switch-over to summer-blend gasoline will help keep pump prices low as summer-blend is more expensive to produce,” adds Dodds. The difference between summer- and winter-blend gasolines is how easily the fuel evaporates at a given temperature. The more volatile a gasoline, the easier it evaporates. Winter-blend fuel must be able to evaporate at low temperatures for the engine to operate properly, especially when the engine is cold. Summer-blend gasoline has a lower volatility to prevent excessive evaporation when outside temperatures rise. Reducing the volatility of summer gas decreases emissions that can contribute to unhealthy ozone and smog levels.

Pump prices are lower this week in Oregon and all 50 states and the District of Columbia. Wisconsin (-22 cents) has the largest weekly drop while New York (-6 cents) has the smallest.

This week there are two states with an average at or above $3 a gallon, Hawaii and California, same as a week ago.

The cheapest gas in the nation can be found in Oklahoma ($1.56) and Wisconsin ($1.57). This is the third week in a row that one or more states has an average below $2 a gallon. In all, 29 states are below that benchmark.

Oregon is one of all 50 states and the District of Columbia with lower prices now than a month ago. The national average is 45 cents less and the Oregon average is 28 cents less than a month ago. Mississippi (-42 cents) has the largest month-over-month decline.

Oregon is one of 50 states and the District of Columbia where drivers are paying less than a year ago. The national average is 45 cents less and the Oregon average is 35 cents less than a year ago. Wisconsin (-$1.13) has the largest year-over-year drop.

West Coast

Although the West Coast region continues to have the most expensive state averages in the country, it is also seeing significant decreases.

Hawaii is most expensive for the 16th week in a row with California, Washington, Oregon, Nevada, Alaska, and Arizona rounding out the top seven. Oregon is fourth most expensive for the ninth week in a row.

Rank Region Price on 3/31/2020
1 Hawaii $3.37
2 California $3.04
3 Washington $2.76
4 Oregon $2.70
5 Nevada $2.63
6 Alaska $2.50
7 Arizona $2.45
8 Utah $2.34
9 New York $2.33
10 Idaho $2.33

Pump prices in all West Coast states are down week-over-week. California (-14 cents) and Washington (-12 cents) have the largest drops in the region.

According to the U.S. Energy Information Administration’s (EIA) latest weekly report, total gas stocks in the region increased by more than 900,000 bbl to 30.97 million bbl, which is approximately 150,000 bbl lower than the level at this time in 2019. Pump prices are likely to continue decreasing this week, barring any supply challenges.

Oil market dynamics

COVID-19 and the crude price war between Russia and Saudi Arabia are pushing crude oil prices down to lows not seen in 18 years. Markets are concerned about the public health, financial and economic impacts from COVID-19. Until the virus is contained and Russia and Saudi Arabia end their crude price war, crude prices are likely to remain significantly lower than they were just a few weeks ago. U.S. crude prices fell to their lowest level since February 2002, briefly dropping below $20 a barrel, as investors grew more pessimistic about oil demand.

At the close of Friday’s formal trading session on the NYMEX, WTI decreased by $1.09 to settle at $21.51 per barrel. At the close of Monday’s formal trading session on the NYMEX, WTI fell $1.42 to $20.09. Today crude is trading around $20 compared to $24 a week ago. Crude prices are down about 57 percent in the last month and are about $40 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls six cents to $2.60 a gallon. Oregon’s average loses 11 cents to $2.87. A year ago the national average for diesel was $3.03 and the Oregon average was $3.14.

 

Updated 3/24/2020

National, Oregon Pump Prices show Double-Digit Drops for the Week

Plummeting crude oil prices, coronavirus outbreak are the drivers of lower pump prices

PORTLAND, Ore., – Pump prices continue their downward slide with decreases in all 50 states. For the week, the national average for regular unleaded drops 13 cents to $2.11 a gallon. The Oregon average tumbles 11 cents to $2.80.

The national average is at its lowest price since April 2016. The Oregon average is at its lowest price since last March.

Crude oil is the biggest driver of the less expensive gas prices. In the last week, crude oil prices dropped to $22/bbl – a low not seen since 2002. Crude oil accounts for nearly 60 percent of the retail pump price. When crude is cheap, gas prices follow suit.

“Normally pump prices start to move up this time of year as we see more driving due to nicer weather and spring break. That’s obviously not the case this year due to the coronavirus outbreak. Americans are staying home and practicing social distancing. A growing number of states including Oregon are issuing stay at home orders. This is leading to less traffic which will drive down demand, increase gasoline supplies and push pump prices lower for the foreseeable future,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregon is one of all 50 states and the District of Columbia where pump prices are lower this week. Oregon is one of 39  states and the District of Columbia with double-digit drops. Wisconsin (-24 cents) has the largest weekly drop while Utah (-6 cents) has the smallest.

This week there are two states with an average at or above $3 a gallon, down from three states a week ago.

The cheapest gas in the nation can be found in Oklahoma ($1.70) and Ohio ($1.77). This is the second week in a row that one or more states has an average below $2 a gallon.

Oregon is one of all 50 states and the District of Columbia with lower prices now than a month ago. The national average is 20 cents less and the Oregon average is 18 cents less than a month ago. Ohio (-65 cents) has the largest month-over-month decline.

Oregon is one of 48 states and the District of Columbia where drivers are paying less than a year ago. The national average is 52 cents less and the Oregon average is 16 cents less than a year ago. Utah (+8 cents) and Hawaii (+3 cents) are the only two states with year-over-year increases.

West Coast

The West Coast continues to have the highest pump prices in the nation with all of the region’s states landing on the top 10 most expensive list.

Rank Region Price on 3/17/2020
1 Hawaii $3.44
2 California $3.18
3 Washington $2.87
4 Oregon $2.80
5 Nevada $2.73
6 Alaska $2.69
7 Arizona $2.56
8 Idaho $2.45
9 Utah $2.43
10 New York $2.39

Hawaii is most expensive for the 15th week in a row with California, Washington, Oregon, Nevada, Alaska, and Arizona rounding out the top seven. Oregon is fourth most expensive for the eighth week in a row.

Pump prices in all West Coast states are down week-over-week. Alaska (-17 cents) has the largest drop in the region.

According to the U.S. Energy Information Administration’s (EIA) latest weekly report, total gas stocks in the region decreased by 1.58 million bbl to 30.06 million bbl, which is 1.27 million bbl lower than the level at this time in 2019. Pump prices are likely to continue decreasing this week, barring any supply challenges.

Oil market dynamics

COVID-19 and the crude price war between Russia and Saudi Arabia continue to push crude prices down. Moving into this week, crude prices will continue decreasing as the world grapples with how to contain the ongoing global public health crisis and associated economic challenges that could lead to a global recession. Until Saudi Arabia and Russia end their price standoff and the spread of COVID-19 ceases, domestic crude prices are likely to remain low.

At the close of Friday’s formal trading session on the NYMEX, WTI decreased by $2.79 to settle at $22.43. At the close of Monday’s formal trading session on the NYMEX, WTI added 73 cents to close at $23.36. Today crude is trading around $24 compared to $27 a week ago. Crude prices are down about 54 percent in the last month and are about $36 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls seven cents to $2.66 a gallon. Oregon’s average loses eight cents to $2.98. A year ago the national average for diesel was $3.02 and the Oregon average was $3.12.

 

Updated 3/17/2020

National, Oregon Averages and Crude Prices Drop amid Coronavirus Outbreak

PORTLAND, Ore., – As crude oil prices trend close to $30/bbl, Americans are seeing pump prices plummet across the country with decreases in all 50 states. For the week, the national average for regular unleaded falls 13 cents to $2.24 a gallon. The Oregon average falls six cents to $2.91.

The national and Oregon averages are at their cheapest prices of the year so far. The national average is at its lowest price since January 2019 and the Oregon average is at its lowest price since last March.

“During these uncertain times of coronavirus, pump prices are declining despite shrinking U.S. stock levels. This is the time of year we normally see the spring run-up in gas prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “AAA expects gas prices to continue moving lower, with the national average likely to fall to $2 a gallon by the end of the month.”

Oregon is one of all 50 states and the District of Columbia where pump prices are lower this week. Ohio (-26 cents) has the largest weekly drop while Hawaii (-2 cents) has the smallest.

This week there are three states with an average at or above $3 a gallon, same as a week ago.

The cheapest gas in the nation can be found in Oklahoma ($1.90) and Ohio ($1.94). This is the first time in 57 weeks that one or more states has an average below $2 a gallon.

Oregon is one of 49 states and the District of Columbia with lower prices now than a month ago. The national average is 20 cents less and the Oregon average is six cents less than a month ago. Indiana (-49 cents) has the largest month-over-month decline. Idaho (+3/10 cent) is the only state with a monthly increase and it is less than one cent.

Oregon is one of eight states where drivers are paying more than a year ago. The national average is 31 cents less and the Oregon average is five cents more than a year ago. This is the fifth-largest yearly increase in the nation. Hawaii (+17 cents) and Utah (+17 cents) have the biggest year-over-year increases.

West Coast

The West Coast continues to have the highest pump prices in the nation with all of the region’s states landing on the top 10 most expensive list.

Rank Region Price on 3/17/2020
1 Hawaii $3.52
2 California $3.33
3 Washington $3.00
4 Oregon $2.91
5 Alaska $2.85
6 Nevada $2.82
7 Arizona $2.66
8 Idaho $2.53
9 Utah $2.48
10 New York $2.48

Hawaii is most expensive for the 14th week in a row with California, Washington, Oregon, Alaska, Nevada, and Arizona rounding out the top seven. Oregon is fourth most expensive for the seventh week in a row.

Pump prices in all West Coast states are down week-over-week. California (-10 cents) has the largest drop in the region.

According to the U.S. Energy Information Administration’s (EIA) latest weekly report, total gas stocks in the region increased slightly from 31.41 million bbl to 31.64 million bbl, which is 1.14 million bbl lower than the level at this time in 2019. Pump prices are likely to continue decreasing this week, barring any supply challenges.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls seven cents to $2.73 a gallon. Oregon’s average loses six cents to $3.06. A year ago the national average for diesel was $3.19 and the Oregon average was $3.10.

 

Updated 3/10/2020

Gas Pump Savings Seen Across Country due to Oil Price War, Coronavirus Concerns

Crude prices nosedive to four-year low amid OPEC disagreement, coronavirus concerns

PORTLAND, Ore., – Crude oil prices have plummeted in response to a lack of agreement between OPEC and non-OPEC countries to cut production and growing concerns about how the coronavirus will impact the global economy. These factors are putting downward pressure on pump prices across the U.S. For the week the national average for regular falls six cents to $2.37 a gallon. The Oregon average slips a penny to $2.97.

“For the third consecutive week, gasoline stocks in the U.S. have decreased while demand has grown. Normally this would cause pump prices to rise. However, crude oil prices have fallen to lows last seen in 2016 which may keep gas prices from rising as much as usual this spring,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Crude oil prices have already moved lower this year as investors believe the coronavirus will create less demand for crude. Then crude prices fell sharply last week and this week as OPEC failed to strike a deal with Russia and other non-OPEC countries to decrease production by 1.5 million barrels per day starting in April in an effort to bolster crude prices. That caused Saudi Arabia, the world’s top exporter of crude, to cut its oil prices and ramp up production in order to gain market share.

Oregon is one of 48 states and Washington D.C. where prices are lower now than a week ago. Indiana (-13 cents) has the largest weekly decline in the country. Idaho (+1 cent) and Utah (+1/2 cent) are the only states with weekly increases.

This week there are three states with an average above $3 a gallon, same as a week ago.

The cheapest gas in the nation can be found in Texas ($2.05) and Mississippi ($2.07). For the 56th week in a row, no states have an average below $2 a gallon.

Oregon is one of 44 states and the District of Columbia with lower prices now than a month ago. The national average is seven cents less and the Oregon average is one cent less than a month ago. Colorado (-22 cents) has the largest month-over-month decline. Delaware (+5 cents) has the largest monthly increase.

Oregon is one of 13 states where drivers are paying more than a year ago. The national average is 11 cents less and the Oregon average is 17 cents more than a year ago. This is the sixth-largest yearly increase in the nation. Utah (+26 cents) and Arizona (+23 cents) have the biggest year-over-year increases.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list.

Rank Region Price on 3/10/20
1 Hawaii $3.54
2 California $3.43
3 Washington $3.08
4 Oregon $2.97
5 Alaska $2.93
6 Nevada $2.87
7 Arizona $2.72
8 Pennsylvania $2.57
9 Idaho $2.56
10 New York $2.55

Hawaii is most expensive for the 13th week in a row with California, Washington, Oregon, Alaska, Nevada, and Arizona rounding out the top seven. Oregon is fourth most expensive for the sixth week in a row.

Pump prices in all West Coast states are down week-over-week. California (-8 cents) has the largest drop.

According to the U.S. Energy Information Administration’s (EIA) latest weekly report, total gas stocks in the region increased slightly from 31.23 million bbl to 31.41 million bbl, which is 1.36 million bbl lower than the level at this time in 2019. Pump prices are likely to continue decreasing this week, barring any supply challenges.

Oil market dynamics

Crude prices plunged at the end of last week after OPEC and other major crude producers, including Russia, failed to set a new production reduction agreement amid mounting global crude demand concerns caused by COVID-19. The rapid decline in crude prices has increased market concerns that an oil price war may continue this week between major crude producers, contributing to further economic troubles worldwide as crude prices continue to drop dramatically. Moreover, the market continues to worry that the impact of COVID-19 will lead to a reduction in global economic growth and global travel, with crude demand expected to decrease. Until it appears that the international public health threat from the virus decreases, crude prices are likely to continue facing significant downward pressure.

At the close of Friday’s formal trading session on the NYMEX, WTI decreased by $4.62 to settle at $41.28. At the close of Monday’s formal trading session on the NYMEX, WTI plummeted $10.15 to close at $31.13—the largest one-day drop since 1991 during the Gulf War. Today crude is trading around $33 compared to $47 a week ago. Crude prices are down about 33 percent in the last month and are about $25 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls four cents to $2.80 a gallon. Oregon’s average loses two cents to $3.12. A year ago, the national average for diesel was $3.01 and the Oregon average was $3.09.

 

Updated 3/3/2020

Lower Crude Prices due to Coronavirus Help Stabilize Pump Prices

PORTLAND, Ore., – Crude oil prices have fallen as the markets react to the growing impact of the coronavirus and fears that the virus will lead to a global economic slowdown. That’s helping fuel prices remain stable or even drop at a time of year when we normally start to see pump prices rise. For the week, the national average for regular loses a nickel to $2.42 a gallon. The Oregon average ticks down half a cent to $2.98.

Pump prices rose in some West Coast markets last week after an explosion and fire at the West Coast’s largest oil refinery in Carson, California, near Los Angeles. The Marathon facility has a capacity of 363,000 barrels a day. Last Wednesday, Marathon issued a statement that the fire was quickly contained. The situation did not end up having a lasting impact on prices in the state or the region.

“This is normally the time of year we start to see gas prices rise due to refinery maintenance season and the upcoming switchover to summer-blend fuels. However, the impact of the coronavirus could keep demand lower than usual which may temper increasing pump prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregon is one of 46 states and Washington D.C. where prices are lower now than a week ago. Ohio (-16 cents) has the largest weekly decline in the country. Idaho (+3 cents) has the largest week-over-week increase.

This week there are three states with an average above $3 a gallon, same as a week ago.

The cheapest gas in the nation can be found in Texas ($2.11) and Mississippi ($2.12). For the 55th week in a row, no states have an average below $2 a gallon.

Oregon is one of 41 states and the District of Columbia with lower prices now than a month ago. The national average is five cents less and the Oregon average is half a cent less than a month ago. Colorado (-18 cents) has the largest month-over-month decline. Delaware (+9 cents) has the largest monthly increase.

Oregon is one of 27 states where drivers are paying more than a year ago. The national average is the same and the Oregon average is 22 cents more than a year ago. This is the fifth-largest yearly increase in the nation. Arizona (+33 cents) and Utah (+31 cents) have the biggest year-over-year increases.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list.

Hawaii is most expensive for the 12th week in a row with California, Washington, Oregon, Alaska, Nevada, and Arizona rounding out the top seven. Oregon is fourth most expensive for the fifth week in a row.

Pump prices across the West Coast region have mostly dropped, consistent with the end of the winter driving season. Arizona (-2 cents) and California (-2 cents) have the largest decreases. Washington (+1/2 cent) is the only state in the region to see its average increase on the week.

Rank Region Price on 3/3/20
1 Hawaii $3.57
2 California $3.47
3 Washington $3.09
4 Oregon $2.98
5 Alaska $2.93
6 Nevada $2.90
7 Arizona $2.75
8 Pennsylvania $2.62
9 New York $2.59
10 Illinois $2.58

As mentioned above, last week’s fire at Marathon’s facility in Carson, California did not cause a long-term pricing impact in California or the West Coast region. The refinery has a capacity of 363,000 b/d. The company’s website states the facility processes heavy crude from California’s San Joaquin Valley and Los Angeles Basin, as well as crudes from the Alaska North Slope, South America, West Africa and other international sources

Moving into this week prices will likely continue to fall, barring any additional supply challenges. According to the latest report from the U.S. Energy Information Administration, total gas stocks in the region increased from 30.85 million bbl to 31.23 million bbl, which is 1.48 million bbl lower than the level at this time in 2019.

Oil market dynamics

Crude oil prices rallied to start this week ahead of an OPEC meeting scheduled for Thursday and Friday when the cartel will decide whether to make further production cuts.

Last week, crude oil prices plummeted to their lowest prices since December 2018 due to concerns surrounding the spread of the coronavirus. The market continues to worry that the impact of the virus will lead to a reduction in global economic growth and global travel, with crude demand expected to decrease. Until it appears that the international public health threat from the virus decreases and China’s industrial sector recovers from the impact of the virus on production, crude prices are likely to continue facing downward pressure.

At the close of Friday’s formal trading session on the NYMEX, WTI decreased by $2.33 to settle at $44.76. At the close of Monday’s formal trading session on the NYMEX, WTI gained $1.99 to close at $46.75. Today crude is trading around $47 compared to $50 a week ago. Crude prices are down about five percent in the last month and are about $9 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average falls three cents to $2.84 a gallon. Oregon’s average loses a penny to $3.14. A year ago, the national average for diesel was $2.99 and the Oregon average was $3.08.

 

Updated 2/25/2020

Gas Prices Tick Up due to Decreasing Stocks, Increasing Demand

PORTLAND, Ore., – Pump prices are edging up in more than half the states as U.S. gasoline stocks decrease and demand rises. For the week, the national average for regular adds three cents to $2.47 a gallon. The Oregon average gains a penny to $2.98.

The latest report from the U.S. Energy Information Administration (EIA) shows total domestic gasoline stocks decreased by 2 million bbl to 259.1 million bbl, while demand increased from 8.72 million b/d to 8.92 million b/d. Some of the decrease in stocks can be attributed to refinery maintenance.

“As the winter driving season wraps up, we usually see gas prices fluctuate as refineries start to undergo maintenance before the switch to summer-blend gas,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregon is one of 35 states where prices are higher now than a week ago. Delaware (+13 cents) has the largest weekly increase in the country. Colorado (-3 cents) has the largest week-over-weekly decline. Prices are flat in Alaska and Massachusetts.

This week there are three states with an average above $3 a gallon, same as a week ago.

The cheapest gas in the nation can be found in Mississippi ($2.14) and Texas ($2.16). For the 54th week in a row, no states have an average below $2 a gallon.

Oregon is one of 46 states and the District of Columbia with lower prices now than a month ago. The national average is five cents less and the Oregon average is one cent less than a month ago. Colorado (-17 cents) has the largest month-over-month decline. Delaware (+12 cents) has the largest monthly increase.

Oregon is one of 46 states and the District of Columbia where drivers are paying more than a year ago. The national average is eight cents more and the Oregon average is 24 cents more than a year ago. This is the fifth-largest yearly increase in the nation. Arizona (+35 cents) and Hawaii (+31 cents) have the biggest year-over-year increases.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list.

Rank Region Price on 2/25/20
1 Hawaii $3.58
2 California $3.49
3 Washington $3.09
4 Oregon $2.98
5 Alaska $2.94
6 Nevada $2.91
7 Arizona $2.77
8 Pennsylvania $2.68
9 Illinois $2.62
10 New York $2.61

Hawaii is most expensive for the 11th week in a row with California, Washington, Oregon, Alaska, Nevada, and Arizona rounding out the top seven. Oregon is fourth most expensive for the fourth week in a row.

Pump prices in the West Coast region are fairly steady, with averages moving only a cent or two in the last week. Nevada (-2 cents) has the largest weekly drop in the region, while Oregon (+1 cent) has the largest weekly increase.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 32.21 million bbl to 30.85 million bbl. The current supply level is approximately 2 million bbl lower than a year ago. Pump prices are expected to fluctuate this week, since stocks are low and demand is growing, signaling that the spring driving season is near.

Oil market dynamics

Although crude prices increased for the last two weeks, they took a tumble to start this week as concerns regarding the coronavirus continue to mount. The market continues to worry that reduced global travel and a slowdown in production in China, the world’s second largest crude consuming country, will reduce crude demand this year. Until it appears that the public health threat from the virus declines and China’s industrial sector recovers, crude prices are likely to continue facing downward pressure.

At the close of Friday’s formal trading session on the NYMEX, WTI decreased by 50 cents to settle at $53.38. At the close of Monday’s formal trading session on the NYMEX, WTI fell $1.95 to close at $51.43. Crude prices are down about four percent in the last month and are about $6 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average dips half a cent to $2.87 a gallon. Oregon’s average loses two cents to $3.15. A year ago, the national average for diesel was $2.97 and the Oregon average was $3.06.

 

Updated 2/18/2020

Volatility in Pump Prices as Crude Oil and Wholesale Gas Prices Rise

PORTLAND, Ore., – State gas prices are fluctuating across the country, sending the national gas price average up a couple of cents on the week. Domestic wholesale gasoline and global crude oil prices rose last week causing some volatility in gas prices. For the week, the national average for regular adds two cents to $2.44 a gallon. The Oregon average slips half a cent to $2.97. Both averages remain at their lowest price since March of last year.

“While Oregon’s gas prices are fairly stable this week, most states saw gas prices increase or decrease by as much as three cents in the last week. And eight states did see prices increase by a nickel or more,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Pump prices may remain volatile in the week ahead depending on the oil markets as well as U.S. gasoline stock levels and demand.”

Oregon is one of 25 states where prices are lower now than a week ago. Colorado (-5 cents) has the largest weekly decline in the country. Indiana (+12 cents) has the largest week-over-week increase. West Virginia is the only state where the average is the same as a week ago.

This week there are three states with an average above $3 a gallon, same as a week ago.

The cheapest gas in the nation can be found in Texas ($2.10) and Missouri ($2.10). For the 53rd week in a row, no states have an average below $2 a gallon.

Oregon is one of 49 states and the District of Columbia with lower prices now than a month ago. The national average is 11 cents less and the Oregon average is two cents less than a month ago. Colorado (-17 cents) has the largest month-over-month decline. Indiana (+4 cents) is the only state with a monthly increase.

Drivers in all 50 states are paying more than a year ago. The national average is 13 cents more and the Oregon average is 23 cents more than a year ago. This is the ninth-largest yearly increase in the nation. Colorado (+36 cents) has the biggest year-over-year increase.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list.

Rank Region Price on 2/18/20
1 Hawaii $3.59
2 California $3.50
3 Washington $3.09
4 Oregon $2.97
5 Alaska $2.94
6 Nevada $2.93
7 Arizona $2.78
8 Pennsylvania $2.64
9 New York $2.61
10 Illinois $2.59

Hawaii is most expensive for the 10th week in a row with California, Washington, Oregon, Alaska, Nevada, and Arizona rounding out the top seven. Oregon is fourth most expensive for the third week in a row.

Pump prices in the West Coast region have declined, as the region nears the end of the winter driving season. On the week, Hawaii (-2 cents), Nevada (-2 cents) and Arizona (-2 cents) saw the largest decreases in the region.

According to the U.S. Energy Information Administration’s latest weekly report, total gas stocks in the region increased slightly from 32.19 million bbl to 32.21 million bbl. The current supply level is approximately 80,000 bbl higher than 2019’s level at this time. Pump prices are expected to remain stable or continue decreasing this week, barring any supply challenges, as winter demand remains low amid relatively stable stock levels.

Oil market dynamics

Crude prices increased at the end of last week after reports emerged that the coronavirus had potentially reached its peak. Market watchers ended the week optimistic that global crude demand, which is expected to drop due to reduced travel as a result of the growing international public health crisis, would not suffer further. However, if occurrences of the virus continue to increase this week, the market may struggle to hold onto price gains. Until it appears that the public health threat from the virus declines and China’s industrial sector recovers from the impact of the virus on production, crude prices are likely to continue facing downward pressure.

At the close of Friday’s formal trading session on the NYMEX, WTI increased by $1.73 to settle at $52.05. U.S. markets were closed Monday for President’s Day. Today crude is trading around $51, compared to $50 a week ago. Crude prices are down about 11 percent in the last month and are about $2 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average loses two cents to $2.88 a gallon. Oregon’s average slips a penny to $3.17. A year ago, the national average for diesel was $2.93 and the Oregon average was $3.05.

 

Updated 2/11/2020

Cheap Crude, Low Demand send Pump Prices Lower

PORTLAND, Ore., – Gas prices are still more expensive than last year but the price gap is steadily shrinking. Falling crude oil prices and low winter demand are helping to send fuel prices lower in most states. For the week, the national average for regular falls four cents to $2.43 a gallon. The Oregon average holds steady at $2.98. Both averages are at their lowest price since March of last year.

“Crude oil prices are the cheapest they’ve been in a year due to market concerns about the coronavirus. That along with steady gasoline stock levels and relatively low winter demand have pushed pump prices lower over the past month,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregon is one of only two states where prices are steady this week. Gas prices declined in the other 48 states and Washington D.C.  Michigan (-8 cents) has the largest weekly decline in the country. Indiana is the other state where the average is the same as a week ago.

This week there are three states with an average above $3 a gallon, same as a week ago.

The cheapest gas in the nation can be found in Missouri ($2.07) and Texas ($2.08). For the 52nd week in a row, no states have an average below $2 a gallon.

All 50 states and the District of Columbia have lower prices now than a month ago. The national average is 16 cents less and the Oregon average is three cents less than a month ago. Ohio (-30 cents) has the largest month-over-month decline.

Drivers in all 50 states are paying more than a year ago but as mentioned above, the price gap continues to shrink. The national average is 15 cents more and the Oregon average is 21 cents more than a year ago. Colorado (+47 cents) has the biggest year-over-year increase.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list.

Rank Region Price on 2/11/20
1 Hawaii $3.60
2 California $3.50
3 Washington $3.09
4 Oregon $2.98
5 Alaska $2.95
6 Nevada $2.94
7 Arizona $2.79
8 Pennsylvania $2.63
9 New York $2.63
10 Vermont $2.60

Hawaii is most expensive for the ninth week in a row with California, Washington, Oregon, Alaska, Nevada, and Arizona rounding out the top seven. Oregon is fourth most expensive for the second week in a row.

On the week, Hawaii (-4 cents) and Arizona (-2 cents) saw the largest decreases in the region.

According to the U.S. Energy Information Administration’s latest weekly report, total gas stocks in the region decreased by 336,000 bbl to 32.2 million bbl. The current supply level is approximately 400,000 bbl lower than 2019’s level at this time. Pump prices are expected to stay fairly steady this week or decrease somewhat as winter demand remains low amid relatively stable stock levels.

Oil market dynamics

Crude prices have dropped for the third consecutive week as market concerns continue to increase due to the growing impact of the coronavirus on global travel. If international travel decreases, global crude demand would likely follow suit and result in lower crude consumption worldwide. Prices could decrease again this week if concerns about the virus continue to weigh on the crude oil market.

Declining crude prices were contained slightly toward the end of last week after reports emerged that the Organization of the Petroleum Exporting Countries (OPEC) is considering deeper production cuts to offset demand concerns due to the coronavirus. OPEC and its partners are scheduled to meet in Vienna, Austria on March 5 and 6 to review their existing 1.7 million b/d production reduction agreement, but the cartel said that it may consider having the meeting sooner as the global public health crisis grows.

At the close of Friday’s formal trading session on the NYMEX, WTI dropped by 63 cents to settle at $50.32. At the close of Monday’s formal trading session on the NYMEX, WTI fell 75 cents to settle at $49.57. Today crude is trading around $50, same as a week ago. Crude prices are down about 14 percent in the last month and are about $3 less than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average loses four cents to $2.90 a gallon. Oregon’s average slips two cents to $3.18. A year ago, the national average for diesel was $2.92 and the Oregon average was $3.06.

 

Updated 1/28/2020

Pump Prices Drift Lower due to Record Gas Stocks

PORTLAND, Ore., – U.S. Gasoline stocks are at the highest level ever recorded by the U.S. Energy Information Administration (EIA) and that’s putting downward pressure on pump prices across the country. For the week, the national average for regular falls four cents to $2.51 a gallon. The Oregon average slips two cents to $2.98. Both averages are at their lowest price since March of last year.

Gas prices have continued to drop over the last week as gasoline stocks grew again, measuring at 260 million bbl – the highest stock level ever recorded by the EIA since it began recording the data in 1990.

“We tend to see lower demand for gasoline this time of year. The relatively low demand along with higher stock levels are helping pump prices ease in all but two states this week,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

EIA estimates that demand grew slightly from 8.56 million b/d to 8.66 million b/d. However, the current rate is lower than last year’s 8.87 million b/d at this time.

Oregon is one of 48 states and the District of Columbia where gas prices are lower now than a week ago. Florida (-8 cents) has the largest weekly decline in the country. Alaska (+1/2 cent) and Hawaii (+1/2 cent) are the only states with a weekly increase.

This week there are three states with an average above $3 a gallon, same as a week ago. For the 11th week in a row, there are no states with an average above $4 a gallon. California’s average had topped the $4 mark last fall.

The cheapest gas in the nation can be found in Missouri ($2.16) and Texas ($2.19). For the 50th week in a row, no states have an average below $2 a gallon.

Oregon is one of 48 states and the District of Columbia with lower prices now than a month ago. The national average is seven cents less and the Oregon average is six cents less than a month ago. Michigan (-21 cents) has the largest month-over-month decline. Rhode Island (+ 2 cents) and Hawaii (+1 cent) are the only two states with monthly increases.

Drivers in all 50 states are paying more than a year ago. The national average is 30 cents more and the Oregon average is 17 cents more than a year ago. Colorado (+50 cents) has the biggest year-over-year increase.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list.

Rank Region Price on 1/28/20
1 Hawaii $3.67
2 California $3.53
3 Washington $3.10
4 Alaska $2.98
5 Oregon $2.98
6 Nevada $2.97
7 Arizona $2.82
8 Pennsylvania $2.71
9 New York $2.69
10 District of Columbia $2.67

Hawaii is most expensive for the seventh week in a row with California, Washington, Alaska, Oregon, Nevada, and Arizona rounding out the top seven. Oregon falls to fifth most expensive after two weeks at fourth.

Pump prices in the region have mostly dropped. As mentioned above, Alaska (+1/2 cent) and Hawaii (+1/2 cent) are the only states in the nation with a weekly increase.

According to EIA’s report for the week ending on January 17, total gas stocks in the region dropped 1.4 million bbl to 32.4 million bbl. The current supply level is in line with last year’s level at this time, which will likely help prices to stabilize throughout the week.

Oil market dynamics

Crude prices dropped last week and losses continued this week due to market concerns over the growing impact of the coronavirus on global travel. If global travel demand decreases, global crude demand would likely follow suit and result in lower global crude consumption. If market concerns regarding the virus continue to grow this week, crude prices could drop further.

At the close of Friday’s formal trading session on the NYMEX, WTI dropped by $1.40 to settle at $54.19. At the close of Monday’s formal trading session on the NYMEX, WTI fell $1.05 to settle at $53.14. Today crude is trading around $54, compared to $58 a week ago. Crude prices are down about 13 percent in the last month and are about the same as a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average slips two cents to $2.97 a gallon. Oregon’s average also loses two cents to $3.23. A year ago, the national average for diesel was $2.92 and the Oregon average was $3.07.

 

Updated 1/21/2020

Oregon Average Dips Below $3 for first time in 10 Months

Gas Prices Edge Lower Across the Country

PORTLAND, Ore., – Growing gasoline stocks and low seasonal demand are putting downward pressure on pump prices. For the week, the national average for regular loses three cents to $2.54 a gallon. The Oregon average falls a penny to $2.99. It’s the first time the Oregon average has dipped below $3 a gallon since March of last year.

The U.S. Energy Information Administration shows increasing gasoline stocks, measuring at 258 million bbl. This is the highest level in nearly a year. At the same time, demand is relatively low, as is usually the case in January, when people tend to drive less.

“Gasoline supplies are outpacing demand this winter, which is resulting in lower pump prices here in Oregon and in every other state this week except Hawaii,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. Still, prices are 5 to 54 cents higher than last year at this time.”

Oregon is one of 49 states and the District of Columbia where gas prices are lower now than a week ago. Michigan (-11 cents) has the largest weekly decline in the country. Hawaii (+1/2 cent) is the only state with a weekly increase.

This week there are three states with an average above $3 a gallon, down from five a week ago. For the 10th week in a row, there are no states with an average above $4 a gallon. California’s average had topped the $4 mark last fall.

The cheapest gas in the nation can be found in Missouri ($2.16) and Texas ($2.23). For the 49th week in a row, no states have an average below $2 a gallon.

Oregon is one of 29 states with lower prices now than a month ago. The national average is two cents less and the Oregon average is six cents less than a month ago. This is the 13th-largest monthly decrease in the nation. Idaho (-14 cents) has the largest month-over-month decline, Utah (-14 cents) is second, and Colorado (-13 cents) is third. Florida (+9 cents) has the largest monthly increase.

Drivers in all 50 states are paying more than a year ago. The national average is 30 cents more and the Oregon average is 16 cents more than a year ago. Ohio (+54 cents) has the biggest year-over-year increase.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list.

Rank Region Price on 1/21/20
1 Hawaii $3.66
2 California $3.53
3 Washington $3.12
4 Oregon $2.99
5 Nevada $2.98
6 Alaska $2.97
7 Arizona $2.83
8 Pennsylvania $2.78
9 District of Columbia $2.71
10 New York $2.71

Hawaii is most expensive for the sixth week in a row with California, Washington, Oregon, Nevada, Alaska and Arizona rounding out the top seven. Oregon is fourth most expensive for the second week in a row.

Pump prices in the region have mostly dropped. On the week, Nevada (-2 cents) has the largest decrease in the region, while Hawaii (+1/2 cent) has the only increase.

Increased gasoline stocks in the region continue to help put downward pressure on pump prices. According to EIA’s report for the week ending on January 10, total gas stocks in the region grew by just over 1 million bbl to 33.77 million bbl. The current supply level is 2.3 million bbl higher than last year’s level at this time, which will likely continue to help keep downward pressure on prices in the region throughout the week.

Oil market dynamics

Crude prices fell last week after new data showed that China’s economy, the world’s second largest, grew by 6.1% in 2019. It is the country’s slowest expansion in 29 years. The slower-than-expected growth rate has increased market concerns that global crude demand may decline this year. If those concerns continue into this week, crude prices could decrease again.

In related news, EIA’s weekly report that showed total domestic crude inventories decreased by 2.5 million bbl. The current crude stock level, 428.5 million bbl, is 8.5 million bbl lower than the level at this same time last year.

At the close of Friday’s formal trading session on the NYMEX, WTI increased by two cents to settle at $58.54. U.S. markets were closed Monday for the Martin Luther King Junior holiday. Today crude is trading around $58, compared to $58 a week ago. Crude prices are down about three percent in the last month and are about $6 per barrel more than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average slips two cents to $2.99 a gallon. Oregon’s average loses a penny to $3.25. A year ago, the national average for diesel was $2.92 and the Oregon average was $3.09.

 

Updated 1/14/2020

Growing Stocks, Decreasing Demand hold Gas Prices Steady

PORTLAND, Ore., – Despite crude oil price fluctuation and growing geopolitical concerns with Iran in the last week, pump prices are fairly steady. For the week, the national average for regular remains at $2.58 a gallon. The Oregon average falls a penny to $3.00.

Natl Or local gas prices chart 1-14-20

The U.S. Energy Information Administration shows U.S. demand for gasoline at 8.1 million b/d, which is the lowest reading for the first week of the year since January 2016. Gasoline stocks are at 251.6 million bbl – this is the highest start of a year on record and gasoline stocks have only measured this high two other times in EIA history.

“Decreasing demand for gasoline along with growing stocks are helping to minimize fluctuations in gas prices, despite tensions with Iran over the past week,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregon is one of 40 states and the District of Columbia where gas prices are lower now than a week ago. Delaware (-5 cents) and Kentucky (-5 cents) have the largest weekly declines in the country. Michigan (+6 cents) has the biggest weekly jump.

This week there are five states with an average above $3 a gallon, down from six a week ago. For the ninth week in a row, there are no states with an average above $4 a gallon. California’s average had topped the $4 mark last fall.

The cheapest gas in the nation can be found in Missouri ($2.20) and Oklahoma ($2.26). For the 48th week in a row, no states have an average below $2 a gallon.

Oregon is one of 16 states with lower prices now than a month ago. The national average is one-and-a-half a cents more and the Oregon average is nine cents less than a month ago. This is the eighth-largest monthly decrease in the nation. Idaho (-21 cents) has the largest month-over-month decline, Utah (-17 cents) is second, and Nevada (-16 cents) is third. Virginia (+8 cents) has the largest month-over-month increase.

Drivers in all 50 states are paying more than a year ago. The national average is 33 cents more and the Oregon average is 12 cents more than a year ago. Illinois (+53 cents) has the biggest year-over-year increase.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list. However, prices are falling in all states in the region.

Rank Region Price on 1/13/20
1 Hawaii $3.66
2 California $3.54
3 Washington $3.13
4 Oregon $3.00
5 Nevada $3.00
6 Alaska $2.99
7 Arizona $2.83
8 Pennsylvania $2.82
9 New York $2.72
10 District of Columbia $2.72

Hawaii is most expensive for the fifth week in a row with California, Washington, Oregon, Nevada, Alaska and Arizona rounding out the top seven. After 25 weeks at fifth, Oregon rises to fourth most expensive.

Pump prices in the region have mostly dropped but only by small amounts. Washington (-1 cent) and Oregon (-1 cent) have the largest decreases in the region. Alaska (+1 cent) saw the largest increase.

Increased gasoline stocks continue to help put downward pressure on pump prices in the region. According to EIA’s report for the week ending on January 3, total gas stocks in the region grew by just over 1 million bbl to 32.65 million bbl. The current supply level is nearly 2 million bbl higher than last year’s level at this time, which will likely continue to help prices in the region decline throughout the week.

Oil market dynamics

Crude oil prices moved lower last week after rising sharply following increased tensions between the U.S. and Iran after U.S. airstrikes in Baghdad killed Iran’s Major General Qassem Soleimani. The U.S. has announced economic sanctions instead of additional military strikes against Iran, and crude oil prices fell. If tension continues to cool in the region this week, crude prices could decrease further.

Additionally, crude prices decreased last week after EIA released new data that revealed total domestic crude inventories grew by 1.2 million bbl. They now sit at 431.1 million bbl, which is 8.7 million bbl lower than their level at this time in 2019.

At the close of Friday’s formal trading session on the NYMEX, WTI dropped by 52 cents to settle at $59.04. At the close of Monday’s formal trading session on the NYMEX, WTI fell 96 cents to close at $58.08. Today crude is trading around $58, compared to $63 a week ago. Crude prices are down about three percent in the last month and are about $6 per barrel more than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average slips a penny to $3.01 a gallon. Oregon’s average also loses a penny to $3.26. A year ago, the national average for diesel was $2.93 and the Oregon average was $3.11.

 

Updated 1/7/2020

Pump Prices Hold Steady Amid Tensions with Iran

PORTLAND, Ore., – Gas price averages are showing little movement this week but that could change if crude oil prices fluctuate due to geopolitical concerns surrounding events in the Middle East. For the week, the national average for regular remains at $2.59 a gallon. The Oregon average falls a penny to $3.02.

Gas prices are starting 2020 at higher prices than at the start of 2019. The national average is about 35 cents more and the Oregon average about 10 cents more than a year ago.

Following airstrikes in Baghdad last Friday, which killed Iran’s Major General Qassem Soleimani, crude oil prices increased, causing market speculation about what could happen to gas prices in the near-term.

“Crude prices usually climb following news of unrest in the Middle East. Whether this is a short- or long-term trend will depend on how long crude sells at a higher price point. In general, every $1 increase in the price of crude oil results in about a 2-and-a-half-cent increase in the price of gasoline,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregon is one of 21 states and the District of Columbia where gas prices are lower now than a week ago. Ohio (-8 cents) has the largest weekly decline in the country. Florida (+7 cents) has the biggest weekly jump. Prices in New Mexico and North Carolina are flat.

This week there are six states with an average above $3 a gallon, same as a week ago. For the eighth week in a row, there are no states with an average above $4 a gallon. California’s average had topped the $4 mark last fall.

The cheapest gas in the nation can be found in Missouri ($2.22) and Oklahoma ($2.28). For the 47th week in a row, no states have an average below $2 a gallon.

Oregon is one of 22 states with lower prices now than a month ago. The national average is half a cent more and the Oregon average is 13 cents less than a month ago. This is the eighth-largest monthly decrease in the nation. Idaho (-26 cents) has the largest month-over-month decline, Nevada (-21 cents) is second, Utah (-19 cents) is third and California (-18 cents) is fourth. Delaware (+9 cents) has the largest month-over-month increase.

Drivers in every state except Alaska are paying more than a year ago. The national average is 35 cents more and the Oregon average is 10 cents more than a year ago. Ohio (+59 cents) and Illinois (+54 cents) have the biggest year-over-year increases. Alaska (-4 cents) is the only state with a year-over-year drop.

West Coast

The West Coast continues to have the highest pump prices in the nation with all the region’s states landing on the top 10 most expensive list. However, prices are falling in all states in the region.

Rank Region Price on 1/7/20
1 Hawaii $3.65
2 California $3.54
3 Washington $3.15
4 Nevada $3.02
5 Oregon $3.02
6 Alaska $2.97
7 Pennsylvania $2.83
8 Arizona $2.83
9 New York $2.73
10 District of Columbia $2.72

Hawaii is most expensive for the fourth week in a row with California, Washington, Nevada, Oregon, and Alaska rounding out the top six. Oregon is fifth most expensive for the 25th week in a row. Arizona is eighth.

Increased gasoline stocks continue to help put downward pressure on pump prices, even as demand remains robust. According to the U.S. Energy Information Administration’s report for the week ending on Dec. 27, total gas stocks in the region are mostly holding steady at 21.56 million bbl. The current supply level is 3.3 million bbl higher than last year’s level at this time, which will likely continue to help prices in the region decline throughout the week.

Oil market dynamics

Crude oil prices rose last week after the U.S. announced that it conducted a drone strike at an airport in Baghdad and killed Major General Qassem Soleimani – a top military leader in Iran. The incident has escalated tension in the region, raising the possibility that global crude supplies could be disrupted. As market concerns over geopolitical risk increase, crude prices have increased amid uncertainty over how long tensions may continue to rise in the region. Crude prices may rise further this week if tensions continue to mount.

In related news, EIA’s weekly report revealed that total domestic crude inventories decreased by 11.5 million bbl last week, bringing the total to 429.9 million bbl. The current level is 11.5 million bbl lower than last year’s level.

At the close of Friday’s formal trading session on the NYMEX, WTI increased by $1.87 to settle at $63.05. At the close of Monday’s formal trading session on the NYMEX, WTI added 22 cents to close at $63.27. Today crude is trading around $63, compared to $61 a week ago. Crude prices are up about six percent in the last month and are about $15 per barrel more than a year ago.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to find the closest EV charging stations, map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Diesel

For the week, the national average adds a penny to $3.02 a gallon. Oregon’s average loses a penny to $3.27. A year ago, the national average for diesel was $2.96 and the Oregon average was $3.15.

 

Find current fuel prices at GasPrices.AAA.com.

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Fuel prices are updated daily at AAA’s Daily Fuel Gauge at AAA Gas Prices. For more info go www.AAA.com.  AAA Oregon/Idaho provides more than 820,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 60 million motorists in North America.