2021 Oregon Gas Price News

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

Updated 1/19/2021

New Year Sees Jumps in Pump Prices

PORTLAND, Ore., – Gas prices are climbing as we start 2021 as crude oil prices continue to rise. Every state reports an increase at the pumps. For the week, the national average for regular increases a nickel to $2.38 a gallon. The Oregon average gains three cents to $2.67.

National State Local Gas Prices 1-19-2021

Since the beginning of the year, the national average has jumped 13 cents and the Oregon average has added seven cents. The last time the nation saw a substantial January pump price increase was in 2009. That year, the national gas price average jumped 23 cents and the Oregon average rose 21 cents in the first three weeks of the year. At that time U.S. gasoline demand and supply were lower and crude oil prices had been increasing, similar to today.

Gas prices have been rising this year as crude oil prices continue to increase — last week pricing as high as $53/bbl. The latest U.S. Energy Information Administration (EIA) reports show gasoline demand remains low at 7.5 million b/d, which contributed to a 4.4 million bbl increase to gasoline supply, for a total of 245 million bbl.

“The higher price of crude oil is outweighing sustained low gasoline demand and a build in gasoline supply,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Drivers can expect gas prices to continue to climb through at least the end of the month, even though demand remains low due to the coronavirus pandemic.”

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.

Prices increased in all 50 states and the District of Columbia this week. Virginia (+9 cents) has the largest weekly increase. Wyoming (+1 cent) has the smallest.

For the 32nd week in a row, California ($3.35) and Hawaii ($3.32) 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 ($2.08) and Missouri ($2.11). For the second week in a row, no state has an average below $2 a gallon.

All 50 states and the District of Columbia have higher prices now than a month ago. The national average is 17 cents more and the Oregon average is eight cents more than a month ago. This is the 45th-largest month-over-month increase in the nation. West Virginia (+26 cents) has the largest monthly increase in the country. Idaho (+4 cents) has the smallest.

Oregon is one of 49 states and the District of Columbia with lower prices now than a year ago. The national average is 16 cents less and the Oregon average is 32 cents less than a year ago. This is the seventh-largest yearly drop in the nation. Arizona (-43 cents) has the largest year-over-year decline. Delaware (+16 cents) is the only state with a year-over-year increase.

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    1/19/21
1 California $3.35
2 Hawaii $3.32
3 Washington $2.81
4 Nevada $2.71
5 Pennsylvania $2.69
6 Oregon $2.67
7 District of Columbia $2.59
8 Alaska $2.58
9 New Jersey $2.55
10 Illinois $2.52

California is the most expensive state for the second week in a row, with Hawaii, Washington, and Nevada rounding out the top four. Oregon falls to sixth, after spending the last three weeks at fifth. Alaska is eighth and Arizona is 16th.

As mentioned above, California and Hawaii re the only two states in the nation with an average at or above $3 a gallon.

Like other states in the nation, some West Coast states saw gas prices jump by a nickel or more in the last week. Arizona (+8 cents) has the largest weekly increase in the region. Oregon (+3 cents) has the smallest weekly increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region increased from 31.44 million bbl to 33.18 million bbl last week. This may help keep pump price increases to a minimum in the region this week.

Oil market dynamics

Crude prices increased last week after Saudi Arabia announced that it would cut its crude production by 1 million b/d in February and March. Additionally, increasing crude prices were supported by EIA’s weekly report revealing that total domestic crude inventories decreased by 8 million bbl to 485.5 million bbl last week. If total domestic crude supply drops again this week, crude prices could continue to increase and push pump prices higher.

 At the close of Friday’s formal trading session, WTI decreased by $1.21 cents to settle at $52.36. Markets were closed Monday for the Martin Luther King Jr. holiday. Today crude is trading around $53, same as a week ago. Crude prices are up about 11 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 1-19-2021

Diesel

For the week, the national average gains three cents to $2.63 a gallon. Oregon’s average adds a penny to $2.75. A year ago the national average for diesel was $3.00 and the Oregon average was $3.24.

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://oregon.aaa.com/community/media/media-contacts.html

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 840,000 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 1/12/2021

Surging Crude Oil Prices Send Pump Prices Higher Despite Decreasing Demand

PORTLAND, Ore., – Retail gas prices are rising in the first days of 2021 even though demand for gasoline has fallen to the lowest level in eight months. Crude oil prices have surged above $50 per barrel, putting upward pressure on pump prices. Many states are seeing increases of more than a nickel. For the week, the national average for regular jumps seven cents to $2.33 a gallon. The Oregon average adds four cents to $2.65.

National State Local Gas Prices 1-12-2021

The national average is at its highest price since last March. The Oregon average is at its highest price since last September.

“Gas Prices are climbing as supplies tighten and crude oil prices get more expensive. Last week, crude oil jumped to the highest price since before the pandemic. If crude prices remain at these levels, it’ll cost more for drivers to fill up,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Pump prices have increased despite gas demand falling from 8.1 million b/d to 7.4 million b/d — the lowest level recorded since the end of May 2020, according to the U.S. Energy Information Administration’s (EIA) latest weekly report.

U.S. gasoline supply sits at 241 million bbl. While this is the healthiest measurement since August 2020, it is 10 million bbl less than the start of 2020 (251 million bbl) when COVID-19 concerns were minimal. This year-over-year deficit, combined with lower refinery production rates and ongoing refinery maintenance, is pushing crude and gas prices more expensive.

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.

Prices increased in all 50 states and the District of Columbia this week, with 36 states and D.C. seeing jumps of a nickel or more. West Virginia (+16 cents) has the largest weekly increase. Hawaii (+1 cent) has the smallest.

For the 31st week in a row, California ($3.30) and Hawaii ($3.29) 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 ($2.02) and Louisiana ($2.05). After 43 weeks, this is the first week that no state has an average below $2 a gallon. Last week, six states were below that benchmark.

Oregon is one of 48 states and the District of Columbia with higher prices now than a month ago. The national average is 17 cents more and the Oregon average is six cents more than a month ago. This is the 44th-largest month-over-month increase in the nation. Kentucky (+25 cents) has the largest monthly increase in the country. Idaho (-3 cents) and Utah (-2 cents) are the only two states with monthly declines.

Oregon is one of 49 states and the District of Columbia with lower prices now than a year ago. The national average is 25 cents less and the Oregon average is 36 cents less than a year ago. This is the seventh-largest yearly drop in the nation. Arizona (-51 cents) has the largest year-over-year decline. Delaware (+4 cents) is the only state with a year-over-year increase.

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    1/12/21
1 California $3.30
2 Hawaii $3.29
3 Washington $2.78
4 Nevada $2.67
5 Oregon $2.65
6 Pennsylvania $2.63
7 Alaska $2.55
8 District of Columbia $2.55
9 New Jersey $2.48
10 Illinois $2.48

After 17 weeks, California bumps Hawaii as the most expensive state with Hawaii, Washington, Nevada and Oregon rounding out the top five. Alaska is seventh and Arizona is 16th. Oregon is fifth most expensive for the third week in a row.

As mentioned above, California and Hawaii re the only two states in the nation with an average at or above $3 a gallon.

Like other states in the nation, some West Coast states saw gas prices jump by a nickel or more in the last week. Arizona (+8 cents) has the largest weekly increase in the region. Hawaii (+1 cent) has the smallest weekly increase in the region and in the nation.

According to EIA’s latest weekly report, total gas stocks in the region increased from 30.18 million bbl to 31.44 million bbl last week. This may help temper pump price increases in the region this week.

Oil market dynamics

Crude prices increased last week after Saudi Arabia announced that it would cut its crude production by 1 million b/d in February and March. Additionally, increasing crude prices were supported by EIA’s weekly report revealing that total domestic crude inventories decreased by 8 million bbl to 485.5 million bbl last week. If total domestic crude supply drops again this week, crude prices could continue to increase and push pump prices higher.

At the close of Friday’s formal trading session, WTI increased by $1.41 cents to settle at $52.24. At the end of Monday’s formal trading session, WTI added a penny to settle at $52.25 per barrel. Today crude is trading around $53, compared to $498 a week ago. Crude prices are up about 13 percent in the last month and are about $7 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 1-11-2021

Diesel

For the week, the national average gains three cents to $2.60 a gallon. Oregon’s average adds a penny to $2.74. A year ago the national average for diesel was $3.02 and the Oregon average was $3.26.

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://oregon.aaa.com/community/media/media-contacts.html

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 1/5/2021

Pump Prices Show Small Gains as 2021 Begins

PORTLAND, Ore., – The new year is underway and retail gas prices are fairly steady this week, changing by less than a nickel in most states. Stable crude oil prices and low demand for gasoline are the major factors. For the week, the national average for regular adds a penny to $2.26 a gallon. The Oregon average also gains a penny to $2.61.

National State Local Gas Prices 1-5-2021

For the year 2020, the annual national gas price average was $2.17 per gallon, the lowest since 2016. The Oregon average for 2020 is $2.67, also the lowest annual gas price average for the state since 2016.

Crude oil prices have remained about $47 to $49 per barrel since late December. U.S. demand for gasoline is at the lowest level for the last week of December in 23 years (since 1998) at 8.1 million b/d, according to the U.S. Energy Information Administration (EIA).

“Holiday road travel was down at least 25%. With fewer people on the road, the majority of states saw little change at the pumps from the last week of 2020 to the first few days of 2021,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

AAA expects demand for gas to dwindle in coming weeks which could put downward pressure on pump prices this month, especially if crude oil holds at the current price point.

How high or low gas prices will go in 2021 will largely depend on crude oil prices, supply and demand. AAA expects that as the vaccine becomes more widely available and states loosen travel restrictions, Americans will begin to drive more and at that point we will see an impact at the pump.

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 46 states and the District of Columbia where prices changed by a nickel or less in the last week. Indiana (-7 cents) has the largest weekly decrease. Ohio (+6 cents) has the largest weekly increase.

For the 30th week in a row, Hawaii ($3.28) and California ($3.25) 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 ($1.94) and Texas ($1.95). This is the 43rd week in a row that one or more states has an average below $2 a gallon. In all, six states are below that benchmark, down from seven a week ago.

Oregon is one of 44 states and the District of Columbia with higher prices now than a month ago. The national average is 10 cents more and the Oregon average is two cents more than a month ago. This is the fourth-smallest month-over-month increase in the nation. Wisconsin (+21 cents) has the largest monthly increase in the country.

All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 32 cents less and the Oregon average is 41 cents less than a year ago. This is the 8th-largest yearly drop in the nation. Arizona (-60 cents) has the largest year-over-year decline.

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 1/5/21
1 Hawaii $3.28
2 California $3.25
3 Washington $2.76
4 Nevada $2.63
5 Oregon $2.61
6 Pennsylvania $2.57
7 Alaska $2.51
8 District of Columbia $2.47
9 New Jersey $2.41
10 Illinois $2.39

Hawaii is most expensive for the 17th week in a row with California, Washington, Nevada and Oregon rounding out the top five. Alaska is seventh and Arizona is 20th. Oregon is fifth most expensive for the second 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.

Prices in the West Coast states changed by three cents or less in the past week. Nevada (+3 cents) has the largest weekly increase in the region. Hawaii (- 6/10ths of a cent) has the biggest weekly decrease in the region.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 30.66 million bbl to 30.18 million bbl last week. This may put some upward pressure on pump prices in the region this week especially if there’s a disruption in supply.

Oil market dynamics

Crude prices increased last week due to a weak dollar and rising market optimism that coronavirus vaccines will help crude oil demand recover in 2021. However, as coronavirus infection rates continue to climb and travel restrictions increase, crude prices will likely be capped this week.

At the close of Thursday’s formal trading session, WTI increased by 12 cents to settle at $48.50. Markets were closed Friday for the New Year’s Day holiday. At the end of Monday’s formal trading session, WTI lost 90 cents to settle at $47.62 per barrel. Today crude is trading around $49, compared to $48 a week ago. Crude prices are up about nine 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 1-5-2021

Diesel

For the week, the national average adds two cents to $2.57 a gallon. Oregon’s average adds half a cent to $2.73. A year ago the national average for diesel was $3.02 and the Oregon average was $3.27.

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://oregon.aaa.com/community/media/media-contacts.html

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.