2021 Oregon Gas Price News

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

Updated 4/6/2021

Gasoline Demand Jumps, Prices Fairly Steady for Now

PORTLAND, Ore., – Demand for gasoline in the U.S. continues to climb and is up nearly 4% from the previous week. Averages in all 50 states are seeing fluctuations of a nickel or less. For the week, the national average holds steady at $2.87 a gallon. The Oregon average edges up a penny to $3.20.

National State Local Gas Prices 4-6-21

Demand for gasoline is near pre-COVID-19 levels. The latest weekly reading from the U.S. Energy Information Administration (EIA) shows demand at 8.9 million b/d. Demand was at 9.7 million b/d in mid-March last year before states put lockdowns and travel restrictions in place to slow the spread of the virus. In April of last year, demand plummeted to just 5 million b/d.

“Demand is expected to continue to rise this spring as COVID-19 vaccinations become more widely available and the weather gets warmer. This will lead to fluctuation at the pumps for the coming weeks,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Because of the jump in demand, gasoline supplies tightened to 230.5 million bbl, the lowest level this year, according to the EIA.

Oregon dealt with some gas outages over the past week with some stations in Central and Southern Oregon temporarily running out of certain grades of gasoline. Deliveries were delayed due to some logistical issues. Maintenance along a refined products pipeline from Portland to Eugene prevented shippers from sending gas along that route. And shippers were unable to send gasoline via barge from Portland to Pasco, Washington, due to damage at the Dalles Dam navigation lock. Repairs were finished last week.

One factor that may help to keep the national gas price average below $3 per gallon is the price of crude, which accounts for nearly 60% of the price at the pump. After hitting a 12-month high of $66/bbl last month, crude has been priced mostly at the $60/bbl mark recently. If it stays relatively low, even with demand increasing, it will contribute to less frequent pump price jumps. However, at the end of last week, crude started to see higher movement following a production announcement by Organization of the Petroleum Exporting Countries Plus (OPEC+).

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 21 states with higher prices now than a week ago, but all increases are relatively small—a nickel or less. Ohio (+5 cents) has the largest weekly increase. Florida (-3 cents) has the largest weekly decline. The averages in all 50 states and the District of Columbia have changed by less than a nickel this week.

California ($3.92) and Hawaii ($3.70) continue to have the most expensive gas prices in the country. In all, 10 states and the District of Columbia are above $3, same as a week ago.

The cheapest gas in the nation can be found in Mississippi ($2.58) and Texas ($2.59). For the 13th week in a row, no state has an average below $2 a gallon.

Oregon is one of 48 states and the District of Columbia with higher prices now than a month ago, and 27 states and D.C. have double-digit monthly increases. The national average is 11 cents more and the Oregon average is 19 cents more than a month ago. This is the seventh-largest month-over-month increase in the nation. Utah (+45 cents) has the largest monthly increase in the country. Nebraska (+1 cent) has the smallest. Delaware (-1 cent) and Pennsylvania (-3/10ths of a cent) are the only two states with monthly declines.

All 50 states have higher prices now than a year ago and all have double-digit increases. The national average is 94 cents more and the Oregon average is 57 cents more than a year ago. This is the second-smallest yearly increase in the nation. Wisconsin (+$1.30 cents) has the biggest yearly increase. Hawaii (+40 cents) has the smallest 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 in the top 10.

Rank Region Price on    4/6/21
1 California $3.92
2 Hawaii $3.70
3 Nevada $3.33
4 Washington $3.33
5 Oregon $3.20
6 Utah $3.16
7 Alaska $3.13
8 Arizona $3.09
9 Illinois $3.08
10 Idaho $3.07

California is the most expensive state for the 13th week in a row, with Hawaii, Nevada, Washington, and Oregon rounding out the top five. Alaska is seventh and Arizona is eighth. Oregon is fifth for the fifth week in a row.

All seven states in the West Coast region are among the 10 states in the country, along with D.C., that have averages above $3 a gallon.

Like the rest of the country, prices show moderate changes in the West Coast region this week. Hawaii (+4 cents) has the largest weekly increase in the region. Arizona (-1 cent) has the largest week-over-week decline in the region.

According to EIA’s latest weekly report, total gas stocks in the region increased from 30.73 million bbl to 31.43 million bbl last week. This could help stabilize prices in the region this week.

Oil market dynamics

Crude oil prices saw gains at the end of the week following the OPEC+ announcement that they will modestly increase production by 350,000 bbl starting in May. The production increase is less than the market expected, but enough to send crude oil prices higher. Oil prices fell Monday on investor concern that rising COVID-19 cases will slow a rebound in demand for oil and fuel. Prices are likely to continue to fluctuate this week, but not spike.

At the close of last week’s formal trading session, WTI increased $2.29 to settle at $61.45. At the close of Monday’s formal trading session, WTI fell $2.80 to settle at $58.65. Today crude is trading around $59, compared to $61 a week ago. Crude prices are about $30 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 4-5-21

Diesel

For the week, the national average slips a penny to $3.09 a gallon. Oregon’s average ticks up half a cent to $3.21. A year ago the national average for diesel was $2.57 and the Oregon average was $2.83.

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 61 million motorists in North America.

 

Updated 3/30/2021

National Average has First Week-over-week Decline since November;
Oregon Average has Small Increase

PORTLAND, Ore., – For the second week in a row, we’re not seeing dramatic increases in pump prices. Growing supplies and cheaper crude oil are helping gas prices stabilize or even decrease in some areas. For the week, the national average for regular edges down a penny to $2.87 a gallon. The Oregon average adds two cents to $3.18.

National State Local Gas Prices 3-30-21

This is the first time since November that the national average has a week-over-week decline.

“Rising gasoline stock levels and declining crude prices mean less expensive gas prices could be coming but it’s too early to call it a trend just yet,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “For now, though, it looks like most areas won’t see big weekly jumps in pump prices unless we have a disruption in supplies.”

Gasoline stocks saw a moderate increase with a build of 200,000 b/d. However, refinery utilization hit 82% indicating we could see a larger build in stocks this week, a factor that could help keep pump prices in check.

Lower crude oil prices are also putting some downward pressure on pump prices. Crude averaged about $60/bbl last week, down from $63/bbl the previous week and $65/bbl the week before that.

Demand for gas is increasing. The U.S. Energy Information Administration (EIA) reports that demand was up by 174,000 b/d to 8.6 million b/d last week. That reading is just 222,000 b/d short of levels one year ago, when demand started to dip as states put lockdowns and travel restrictions in place to halt the spread of COVID-19. If demand continues to increase, prices could follow.

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 13 states with higher prices now than a week ago. Ohio (+8 cents) has the largest weekly increase. Delaware (-6 cents) has the largest weekly decline.

California ($3.90) and Hawaii ($3.66) continue to have the most expensive gas prices in the country. In all, 10 states and the District of Columbia are above $3, down from 11 states and D.C. a week ago.

The cheapest gas in the nation can be found in Mississippi ($2.59) and South Carolina ($2.60). For the 12th 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 and 37 states and D.C. have double-digit monthly increases. The national average is 15 cents more and the Oregon average is 24 cents more than a month ago. This is the eighth-largest month-over-month increase in the nation. Utah (+65 cents) has the largest monthly increase in the country. Indiana (+1 cent) has the smallest.

All 50 states have higher prices now than a year ago and all have double-digit increases. The national average is 86 cents more and the Oregon average is 47 cents more than a year ago. This is the 50th-largest yearly increase in the nation. Wisconsin (+$1.10 cents) has the biggest yearly increase. Hawaii (+30 cents) has the smallest 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 in the top 10.

Rank Region Price on    3/30/21
1 California $3.90
2 Hawaii $3.66
3 Washington $3.33
4 Nevada $3.31
5 Oregon $3.18
6 Utah $3.15
7 Alaska $3.12
8 Arizona $3.10
9 Idaho $3.05
10 Illinois $3.05

Prices show moderate changes in the West Coast region this week. Hawaii (+5 cents) has the largest weekly increase in the region. Arizona (-1 cent) has the largest week-over-week decline in the region.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 31.34 million bbl to 30.76 million bbl last week. This could put some upward pressure on prices in the region this week.

Oil market dynamics

Crude prices fluctuated throughout last week from a low of $57.76 to a high of $61.55 in reaction to world news, including concerns of new European Union lock downs and tight vaccination supplies throughout local economies. Also affecting the price of crude was news Thursday of a stranded container ship, which continued to block the Suez Canal, a major international oil-supply route. The ship was finally freed on Monday. While ships started to re-route last week, some oil deliveries were delayed. This has had limited impact here as U.S. oil production should be able to keep stateside supply balanced and in turn, prices stable.

At the close of Friday’s formal trading session, WTI increased to settle at $60.97. At the close of Monday’s formal trading session, WTI added 59 cents to settle at $61.56. Today crude is trading around $61, compared to $58 a week ago. Crude prices are about $40 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 3-29-21

Diesel

For the week, the national average slips a penny to $3.10 a gallon. Oregon’s average gains two cents to $3.20. A year ago the national average for diesel was $2.61 and the Oregon average was $2.89.

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 61 million motorists in North America.

 

Updated 3/23/2021

Pump Price Increases Slow Down

PORTLAND, Ore., – After several weeks of pump prices rising almost every day, gas prices are showing some signs of stability. The rate of increase is slowing down in most states and other states are seeing weekly declines, due to a dip in demand, growing supplies and lower crude oil prices. For the week, the national average for regular ticks up half a cent to $2.88 a gallon. The Oregon average climbs three cents to $3.16. These increases follow jumps of eight and nine cents, respectively, last week.

National State Local Gas Prices 3-23-21

The national average is at its highest price since May 2019. The Oregon average is at its highest price since December 2019.

“The slower rate of increases doesn’t mean gas prices have peaked for the season, but it is a positive sign for consumers,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Drivers can still expect fluctuation at the pumps. However, large jumps are not likely for most of us, barring unexpected events.”

Demand for gas has decreased from 8.7 million b/d to 8.4 million b/d according to the latest weekly report from the U.S. Energy Information Administration. Supply has increased from 231.6 million bbl to 232 million bbl. While still one of the lowest levels of 2021, the increase in supply is promising especially alongside increasing refinery utilization rates, which jumped from 69% to 76%. That is just 7 percentage points away from utilization levels before February’s Texas winter storm.

Further aiding the more modest jumps at the pump in the last week is the lower price of crude oil. Crude averaged around $63/bbl, down $2/bbl from the previous week’s average of $65/bbl.

Demand for gasoline will likely increase again this spring and summer, as more Americans get the COVID-19 vaccine, and return to more normal activities such as school, work and vacations.

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 31 states and the District of Columbia with higher prices now than a week ago. Oregon is one of 22 states where the weekly increase is three cents or less. Utah (+17 cents) has the largest weekly increase. Michigan (-7 cents) has the largest weekly decline.

California ($3.88) and Hawaii ($3.61) continue to have the most expensive gas prices in the country. In all, 12 states are above $3, up from 10 states a week ago.

The cheapest gas in the nation can be found in Mississippi ($2.61) and Texas ($2.63). For the 11th 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 and all but two states have a double-digit monthly increase. The national average is 23 cents more and the Oregon average is 29 cents more than a month ago. This is the 16th-largest month-over-month increase in the nation. Utah (+70 cents) has the largest monthly increase in the country. Ohio (+1 cent) has the smallest.

All 50 states have higher prices now than a year ago and all have double-digit increases. The national average is 75 cents more and the Oregon average is 33 cents more than a year ago. This is the 50th-largest yearly increase in the nation. Oklahoma (+96 cents) has the biggest yearly increase. Hawaii (+16 cents) has the smallest 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 in the top 10.

Rank Region Price on    3/23/21
1 California $3.88
2 Hawaii $3.61
3 Washington $3.32
4 Nevada $3.30
5 Oregon $3.16
6 Utah $3.16
7 Alaska $3.12
8 Arizona $3.11
9 Illinois $3.06
10 District of Columbia $3.06

California is the most expensive state for the 11th week in a row, with Hawaii, Washington, Nevada, and Oregon rounding out the top five. Alaska is seventh and Arizona is eighth. Oregon is fifth for the third week in a row.

All seven states in the West Coast region are among the 12 states in the country that have averages above $3 a gallon.

Prices increased in every state in the West Coast region this week. Hawaii (+5 cents) has the largest weekly increase in the region. Arizona (+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 decreased from 31.63 million bbl to 31.34 million bbl last week. This could put some upward pressure on prices in the region this week.

Oil market dynamics

Crude prices rose slightly Monday but have fallen today as investors are concerned about another COVID-19 wave across Europe. Although the price of crude increased Friday after Saudi Arabia reported a drone attack on an oil facility that caused a fire but no injuries or damage, crude prices declined last week due to market concern that demand may stumble as some countries restart coronavirus restrictions to curb growing infection rates. The decrease in crude prices was also supported by EIA reporting that total crude inventories increased by 2.4 million bbl to 500.8 million bbl. For this week, crude prices may decline further if demand concerns persist.

At the close of Friday’s formal trading session, WTI increased by $1.42 cents to settle at $61.42. At the close of Monday’s formal trading session, WTI added 13 cents to settle at $61.55. Today crude is trading around $59, compared to $65 a week ago. Crude prices are about $39 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 3-22-21

Diesel

For the week, the national average adds two cents to $3.11 a gallon. Oregon’s average rises four cents to $3.19. A year ago the national average for diesel was $2.67 and the Oregon average was $2.99.

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 61 million motorists in North America.

 

Updated 3/16/2021

Oregonians paying 13% More at the Pumps since mid-February

PORTLAND, Ore., – Following last month’s winter storm in Texas, the Oregon average has jumped 13% and the national average 14%, and this week 16 states are seeing double-digit increases. For the week, the national average for regular rises eight cents to $2.87 a gallon. The Oregon average jumps nine cents to $3.13.

National State Local Gas Prices 3-16-21

The national average is at its highest price since May 2019. The Oregon average is at its highest price since December 2019.

Prices will continue to increase this week, especially following the U.S. Energy Information Administration’s (EIA) latest weekly reports showing a second week of major decline in gasoline stocks and a substantial increase in U.S. demand.

“With increased demand and tighter gasoline supplies, we are looking at more expensive pump prices with little relief in the weeks ahead,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

For the week ending March 5, the EIA reports gas stocks decreased by nearly 12 million bbl to 231.6 million bbl, as demand increased from 8.15 million b/d to 8.73 million b/d. That demand measurement is the highest since the end of November 2020, which coincidentally was the same month we saw stocks as low as they are today.

Amid tightening supply and increasing demand, the good news is that the price of crude, which accounts for more than half of the price at the pump, showed signs of stability on the week fluctuating between $64–$66/bbl. If crude sustains at this level, especially as refinery utilization increases, the jumps at the pump are likely not to be so substantial by April.

One reason for the increased demand for gasoline is that several states are easing or eliminating COVID-related mandates and restrictions. 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 49 states and the District of Columbia with higher prices now than a week ago, and 16 states are seeing double-digit increases. Utah (+26 cents) has the largest weekly increase. Ohio (+1 cent) has the smallest weekly increase. Indiana (-1/2 cent) is the only two state with a weekly decrease.

While California ($3.86) and Hawaii ($3.56) started the year above the $3 per gallon mark, several other states have now followed suit: Washington ($3.28), Nevada ($3.23), Oregon ($3.04), Arizona ($3.10), Illinois ($3.09), Alaska ($3.07), District of Columbia ($3.05) and Pennsylvania ($3.04). In all, 10 states are above $3, up from seven states a week ago.

The cheapest gas in the nation can be found in Mississippi ($2.58) and Louisiana ($2.61). For the 10th 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 and every state has a double-digit monthly increase. The national average is 35 cents more and the Oregon average is also 35 cents more than a month ago. This is the 30th-largest month-over-month increase in the nation. Utah (+61 cents) has the largest monthly increase in the country. Hawaii (+19 cents) has the smallest.

All 50 states have higher prices now than a year ago. The national average is 62 cents more and the Oregon average is 21 cents more than a year ago. This is the 50th-largest yearly increase in the nation. Illinois (+78 cents) has the biggest yearly increase. Hawaii (+4 cents) has the smallest 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 in the top 10.

Rank Region Price on    3/16/21
1 California $3.86
2 Hawaii $3.56
3 Washington $3.28
4 Nevada $3.23
5 Oregon $3.13
6 Arizona $3.10
7 Illinois $3.09
8 Alaska $3.07
9 District of Columbia $3.05
10 Pennsylvania $3.04

California is the most expensive state for the 10th week in a row, with Hawaii, Washington, Nevada, Oregon, and Arizona rounding out the top six. Oregon is fifth for the second week in a row. Alaska is eighth.

As mentioned above, California, Hawaii, Washington, Nevada, Oregon, Arizona, and Alaska are seven of the 10 states in the nation with averages at or above $3 a gallon.

Prices increased in every state in the West Coast region this week, just like the rest of the country. California (+9 cents) has the largest weekly increase in the region. Hawaii (+5 cents) 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 32.04 million bbl to 31.63 million bbl last week. This will likely put upward pressure on prices in the region this week.

Oil market dynamics

Crude prices remain at their highest prices in nearly two years. Although the price of crude decreased on Friday, due to a stronger dollar, crude prices rose earlier last week to $66/bbl with market optimism about crude demand recovery. Crude prices increased despite EIA’s latest weekly report revealing that crude inventories increased by 13.8 million bbl to 498.4 million bbl. For this week, crude prices declined slightly Monday as market-watchers were concerned about increasing COVID-19 cases and new lockdowns in Europe.

At the close of Friday’s formal trading session, WTI decreased by 41 cents to settle at $65.61. At the close of Monday’s formal trading session, WTI lost 22 cents to settle at $65.39. Today crude is trading around $64, compared to $64 a week ago. Crude prices are about $34 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 3-15-21

Diesel

For the week, the national average climbs seven cents to $3.09 a gallon. Oregon’s average rises eight cents to $3.15. A year ago the national average for diesel was $2.74 and the Oregon average was $3.07.

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 61 million motorists in North America.

 

Updated 3/9/2021

Crude and Gas Prices Continue to Surge as Stocks Tighten

PORTLAND, Ore., – Every state average for regular gasoline has climbed by double-digits since February resulting in 1 in 10 gas stations in the nation with pump prices that are $3 a gallon or more. Pump prices are surging due to the highest crude oil prices in nearly two years and refinery utilization at a record low. For the week, the national average for regular climbs seven cents to $2.80 a gallon. The Oregon average also adds seven cents to $3.04.

National State Local Gas Prices 3-09-21

The Oregon average was last at $3 a gallon in January 2020. The last time we saw the national average flirt with $3 was nearly three years ago in May 2018. At that time, crude was averaging about $71 per barrel.

The national average is at its highest price since June 2019. The Oregon average is at its highest price since December 2019.

“With crude oil prices back on the rise, we could see the national average climb towards $2.95 and the Oregon average to $3.25 this spring with some relief by early summer,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

The Energy Information Administration’s (EIA) report for the week ending February 26 shows refinery capacity at 56%, which is the lowest rate recorded by the agency. It is also 12 percentage points below last week and 18 percentage points lower than a year ago. EIA data also points to a decrease in gasoline stocks down to 243.4 million bbl, which is 3.5% below levels at the end of February 2020.

Demand for gasoline is showing moderate increases, but still lags behind 2020 levels due to the coronavirus pandemic. The EIA reports demand at 8.1 million barrels per day for the week, compared to 9.2 million barrels for the same week in 2020, which was just before state lockdowns and working/school from home started.

“With refinery utilization at a record low, gasoline supplies tightening, demand modestly increasing and crude prices on the rise, cheap pump prices are in the rear view mirror for the immediate future,” adds Dodds.

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 48 states and the District of Columbia with higher prices now than a week ago and seven states are seeing double-digit increases. Utah (+21 cents) has the largest weekly increase. West Virginia (+1 cent) has the smallest weekly increase. Indiana (-1 cent) and Ohio (-2/10ths of a cent) are the only two states with a weekly decrease.

While California ($3.70) and Hawaii ($3.48) started the year above the $3 per gallon mark, a handful of other states have now followed suit: Washington ($3.19), Nevada ($3.12), Oregon ($3.04), Arizona ($3.02) and Pennsylvania ($3.01). In all, seven states are above $3, up from four states a week ago. $3.04)

The cheapest gas in the nation can be found in Mississippi ($2.47) and Louisiana ($2.51). For the ninth 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 and every state has a double-digit monthly increase. The national average is 33 cents more and the Oregon average is 29 cents more than a month ago. This is the 38th-largest month-over-month increase in the nation. Arizona (+58 cents) has the largest monthly increase in the country. Hawaii (+17 cents) has the smallest.

Oregon is one 49 states with higher prices now than a year ago. The national average is 42 cents more and the Oregon average is seven cents more than a year ago. This is the 49th-largest yearly increase in the nation. Iowa (+56 cents) has the biggest yearly increase. Hawaii (-3 cents) is the only state with a 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 in the top 10.

Rank Region Price on    3/9/21
1 California $3.76
2 Hawaii $3.51
3 Washington $3.19
4 Nevada $3.12
5 Oregon $3.04
6 Arizona $3.02
7 Pennsylvania $3.01
8 Alaska $3.00
9 Illinois $2.95
10 District of Columbia $2.94

California is the most expensive state for the ninth week in a row, with Hawaii, Washington, Nevada, Oregon, and Arizona rounding out the top six. Oregon rises to fifth after spending the last seven weeks at sixth. Alaska is eighth.

As mentioned above, California, Hawaii, Washington, Nevada, Oregon and Arizona are six of the seven states in the nation with averages at or above $3 a gallon.

Prices increased in every state in the West Coast region this week, just like the rest of the country. Alaska (+10 cents) has the largest weekly increase in the region. Arizona (+3 cents) has the smallest week-over-week increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region decreased slightly from 32.64 million bbl to 32.04 million bbl last week. This will likely put upward pressure on prices in the region this week.

Oil market dynamics

Crude prices remain at their highest prices in nearly two years. At the end of last week, OPEC+ announced the decision to add only about 170,000 barrels per day to world markets in April.  The industry had been expecting a production increase of about 1.5 million barrels per day in April, with more oil released in May, June, and beyond. This decision sent crude oil surging to the highest price point since April 2019. For this week, prices may continue to increase if the market remains optimistic about crude demand as COVID-19 vaccines become more widespread.

At the close of Friday’s formal trading session, WTI increased by $2.26 to settle at $66.09. At the close of Monday’s formal trading session, WTI lost $1.04 to settle at $65.05. Today crude is trading around $64, compared to $61 a week ago. Crude prices are about $24 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 3-8-21

Diesel

For the week, the national average climbs seven cents to $3.02 a gallon. Oregon’s average rises six cents to $3.07. A year ago the national average for diesel was $2.81 and the Oregon average was $3.13.

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 61 million motorists in North America.

Updated 3/2/2021

March Fuel Prices: In like a Lion but Out like a Lamb?

PORTLAND, Ore., – Gas Prices continue to shoot up and are at the highest levels since before the coronavirus pandemic. The skyrocketing prices are the result of climbing crude prices and the February winter storm that took more than two dozen U.S. refineries offline. For the week, the national average for regular shoots up 13 cents to $2.73 a gallon. The Oregon average jumps nine cents to $2.97.

National State Local Gas Prices 3-2-2021

The national average is at its highest price since August 2019. The Oregon average is at its highest price since last March.

“March may bring the most expensive pump prices of 2021. AAA says drivers can expect gas prices to continue rising this month, adding at least another five to 15 cents until refinery operations are stable,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “While March is roaring in like a lion, it could go out like a lamb. We could see some relief at the pumps as the 26  refineries that were shut down due to last month’s severe winter weather resume normal operations, especially if crude oil prices show signs of stability.”

Crude oil prices have been near $60 per barrel for the last three weeks. Investors believe improving global economies due to the rollout of the coronavirus vaccine will cause demand for oil to pick up. Some major banks and traders suggest crude will rise to the $70s in the coming months. Higher crude prices translate into higher pump prices because crude oil accounts for more than 50% of the price 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.

All 50 states and the District of Columbia have higher prices now than a week ago and 14 states are seeing double-digit increases. Arizona (+24 cents) has the largest weekly increase. Delaware (+3 cents) has the smallest weekly increase.

While California ($3.70) and Hawaii ($3.48) started the year above the $3 per gallon mark, a couple other states have followed suit: Washington ($3.11) and Nevada ($3.04). In all, four states are above $3, up from three states a week ago.

The cheapest gas in the nation can be found in Mississippi ($2.39) and Louisiana ($2.43). For the eighth 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 and every state has a double-digit monthly increase. The national average is 31 cents more and the Oregon average is 26 cents more than a month ago. This is the 40th-largest month-over-month increase in the nation. Arizona (+56 cents) has the largest monthly increase in the country. Hawaii (+15 cents) has the smallest.

Oregon is one of only three states with lower prices now than a year ago. The national average is 29 cents more and the Oregon average is 2 cents less than a year ago. This is the smallest of the three yearly drops in the nation. Hawaii (-9 cents) has the largest year-over-year decline. Iowa (+45 cents) has the biggest yearly increase.

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.

Rank Region Price on    3/2/21
1 California $3.70
2 Hawaii $3.48
3 Washington $3.11
4 Nevada $3.04
5 Arizona $2.99
6 Oregon $2.97
7 Pennsylvania $2.95
8 Alaska $2.90
9 Illinois $2.90
10 District of Columbia $2.87

California is the most expensive state for the eighth week in a row, with Hawaii, Washington, Nevada, Arizona and Oregon rounding out the top six. Oregon is sixth for the seventh week in a row. Alaska is eighth.

As mentioned above, California, Hawaii, Washington and Nevada are the only states in the nation with averages at or above $3 a gallon.

Prices increased in every state in the West Coast region this week, just like the rest of the country. Arizona (+24 cents) has the largest weekly increase in the region and the nation. Hawaii (+5 cents) has the smallest week-over-week increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region increased slightly from 32.62 million bbl to 32.64 million bbl last week. This may help moderate pump price increases in the region this week.

Oil market dynamics

Crude prices remain at their highest prices in about a year. Although a stronger dollar and market concerns regarding interest rates pushed crude prices lower to end last week, prices increased more than $2 earlier in the week—up to $63.22—due to growing market optimism that as vaccines become more available, crude demand will recover. Crude prices rose mid-week despite the EIA’s latest report revealing that total domestic crude inventories increased by 1.3 million bbl last week, bringing the supply level to 463 million bbl. For this week, crude prices could rise if EIA’s next weekly report shows a decrease in total stocks.

At the close of Friday’s formal trading session, WTI decreased by $2.03 to settle at $61.50. At the close of Monday’s formal trading session, WTI lost 86 cents to settle at $60.64. Today crude is trading around $61, same as a week ago. Crude prices are about $16 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 3-2-2021

Diesel

For the week, the national average climbs nine cents to $2.95 a gallon. Oregon’s average also jumps nine cents to $3.01. A year ago the national average for diesel was $2.85 and the Oregon average was $3.15.

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 61 million motorists in North America.

 

Updated 2/23/2021

Highest Crude Prices in One Year, Record Cold Fuel Spikes at the Pumps

PORTLAND, Ore., – Drivers are filling up to some of the most expensive pump prices in about a year. Crude oil prices have climbed above $60 per barrel—the highest price in more than a year. With the shutdown of Gulf Coast and some Mid-West refineries due to last week’s severe winter weather, gasoline supplies have tightened and gas prices have skyrocketed. For the week, the national average for regular shoots up 13 cents to $2.65 a gallon. The Oregon average jumps nine cents to $2.87.

National State Local Gas Prices 2-23-21

The national average is at its highest price since October 2019. The Oregon average is at its highest price since last March.

Refinery outages were reported last week in Texas, Louisiana, Oklahoma, Arkansas, Tennessee, and Kansas.

“When close to 40% of U.S. crude production is offline because refineries are closed, drivers will feel pain at the pumps until operations resume,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “The encouraging news is the nearly two dozen impacted refiners are expected to restart operations this week, if they haven’t already. So we expect regular gasoline deliveries to resume and impacted stations will be re-fueled.”

Rising crude oil prices are also driving higher gas prices. Crude climbed above $60 per barrel last week, which is close to the high price for all of 2020 of $63.27/bbl (seen on January 6, 2020). Investors believe improving global economies due to the rollout of the coronavirus vaccine will cause demand for oil to pick up. Some major banks and traders suggest crude will rise to the $70s in the coming months.

With the price of crude consistently increasing, so have gas prices because crude oil accounts for more than 50% of the price at the pump.

Gas prices are likely to be volatile because of the higher crude oil prices and until crude production is back to normal levels. Motorists can expect these more expensive prices to stick around, but large spikes are likely to subside. AAA believes the national average could climb to $2.80 a gallon this spring. The Oregon average will likely surpass $3 a gallon.

The U.S. Energy Information Administration (EIA) reports gasoline stocks sit at 257 million bbl. Just 2 million bbl short of year-ago, stock levels are relatively healthy. That will allow ample supply to get to impacted areas. EIA’s latest demand measurement of 8.4 million b/d is the highest reported since early November of last year. However, AAA expects that number to be lower in this Wednesday’s report as last week’s winter storm took motorists off the road.

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.

All 50 states and the District of Columbia have higher prices now than a week ago and 36 states are seeing double-digit increases. Arizona (+23 cents) has the largest weekly increase. Montana (+5 cents) has the smallest weekly increase.

After 36 weeks, Washington ($3.01) joins California ($3.59) and Hawaii ($3.43) as the only states in the nation with averages at or above $3 a gallon.

The cheapest gas in the nation can be found in Mississippi ($2.30) and Louisiana ($2.34). For the seventh 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. Every state except Hawaii has a double-digit monthly increase. The national average is 25 cents more and the Oregon average is 18 cents more than a month ago. This is the 46th-largest month-over-month increase in the nation. Michigan (+35 cents) has the largest monthly increase in the country. Hawaii (+9 cents) has the smallest.

Oregon is one of only nine states with lower prices now than a year ago. The national average is 17 cents more and the Oregon average is 11 cents less than a year ago. This is the third-largest yearly drop in the nation. Hawaii (-15 cents) has the largest year-over-year decline. Iowa (+32 cents) has the biggest yearly 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    2/23/21
1 California $3.59
2 Hawaii $3.43
3 Washington $3.01
4 Pennsylvania $2.91
5 Nevada $2.90
6 Oregon $2.87
7 Illinois $2.83
8 District of Columbia $2.82
9 Alaska $2.81
10 New Jersey $2.77

California is the most expensive state for the seventh week in a row, with Hawaii and Washington rounding out the top three. Nevada is fifth, Oregon is sixth for the sixth week in a row. Alaska is ninth and Arizona is 11th.

As mentioned above, California, Hawaii and Washington are the only states in the nation with averages at or above $3 a gallon.

Prices increased in every state in the West Coast region this week. Arizona (+23 cents) has the largest weekly increase in the region and the nation. Hawaii (+6 cents) has the smallest week-over-week increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region decreased slightly from 32.86 million bbl to 32.62 million bbl last week. This may put additional upward pressure on pump prices in the region this week.

Oil market dynamics

Crude prices are at their highest level in about a year. Crude prices took a step back last week but then rebounded to start this week. There were market concerns last week that crude demand may not rebound as expected, but prices did push higher earlier in the week due to supply and delivery impacts from the winter storm. Crude prices were also bolstered by EIA’s latest weekly report revealing that total domestic crude inventories dropped by 7.3 million bbl, bringing the supply level to 461.8 million bbl. For this week, crude prices rose after investors and traders made predictions that crude prices will likely climb into the $70s as the coronavirus vaccine gets rolled out and life begins to return to normal. Prices will likely rise if EIA’s next weekly report shows another decrease in total stocks, but price gains could be limited again if demand concerns persist.

At the close of Friday’s formal trading session, WTI decreased by $1.28 to settle at $59.24. At the close of Monday’s formal trading session, WTI increased by $2.25 to settle at $61.49. Today crude is trading around $61, compared to $60 a week ago. Crude prices are about $8 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 2-23-2021

Diesel

For the week, the national average climbs eight cents to $2.86 a gallon. Oregon’s average jumps nine cents to $2.92. A year ago the national average for diesel was $2.88 and the Oregon average was $3.16.

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 61 million motorists in North America.

Updated 2/16/2021

High Crude Prices, Severe Winter Weather Send Pump Prices Higher

PORTLAND, Ore., – Crude oil prices have climbed near $60 per barrel—the highest price in more than a year. The rising crude prices along with extreme winter weather across much of the country are putting upward pressure on retail gas prices, despite relatively low demand for gasoline. For the week, the national average for regular jumps a nickel to $2.52 a gallon. The Oregon average rises three cents to $2.78.

National State Local Gas Prices 2-16-2021

The national average is at its highest price since January of last year. The Oregon average is at its highest price since last March.

At the end of last week, crude oil prices reached $59.47/bbl. This is only about $4 less than last year’s most expensive price of $63.27/bbl (seen on January 6, 2020). Since the end of November, the price of crude has increased as much as $5/bbl a week, meaning we could see 2021 crude oil prices top 2020 prices as early as this week.

With the price of crude consistently increasing, so have gas prices because crude oil accounts for more than 50% of the price at the pump.

The extreme winter weather across much of the country is also causing gas prices to rise in some areas due to decreases in production and delivery challenges. The impact is most noticeable in oil-producing states such as Texas where record cold and power outages have taken crude production offline. So far, the Southwest region has at least 2 million b/d of refining capacity off-line and has shuttered approximately 1 million b/d of crude production in the region. This is causing gas prices to rise in the region and beyond. The average for regular in Texas has increased a nickel this week.

“Spiking crude oil prices, not demand, is the major driver behind the pump price increases so far in 2021,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “If demand grows, that will further fuel pump price increases.”

U.S. gasoline demand has averaged 7.7 million b/d since January. The last time it measured below 8 million b/d during the first six weeks of the year was 2001.

Just how expensive gas will get this year is largely dependent on crude price and demand. The price of crude is still $10 to $12/bbl less than when the national average was last near $3/gallon in 2018. In order for prices to be that expensive again this spring or summer, AAA believes that a major spike in demand, returning to normal peak driving season levels, and crude sustaining at very high prices will be required.

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 48 states and the District of Columbia with higher prices now than a week ago. Indiana (+11 cents) has the largest weekly increase. Florida (- 2 cents) has the largest weekly decline.

For the 36th week in a row, California ($3.48) and Hawaii ($3.37) 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 ($2.17) and Texas ($2.22). For the sixth 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 14 cents more and the Oregon average is 11 cents more than a month ago. This is the 40th-largest month-over-month increase in the nation. Idaho (+20 cents) has the largest monthly increase in the country. Delaware (+2 cents) has the smallest.

Oregon is one of 14 states with lower prices now than a year ago. The national average is eight cents more and the Oregon average is 20 cents less than a year ago. This is the fourth-largest yearly drop in the nation. Arizona (-27 cents) has the largest year-over-year decline. Delaware (+24 cents) has the biggest yearly 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    2/16/21
1 California $3.48
2 Hawaii $3.37
3 Washington $2.92
4 Nevada $2.83
5 Pennsylvania $2.81
6 Oregon $2.78
7 Illinois $2.71
8 Alaska $2.70
9 New Jersey $2.68
10 District of Columbia $2.67

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

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

Prices increased in every state in the West Coast region this week. Arizona (+7 cents) has the largest weekly increase in the region. Hawaii (+2 cents) has the largest week-over-week increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 33.71 million bbl to 32.86 million bbl last week. This may put additional upward pressure on pump prices in the region this week.

Oil market dynamics

Crude oil prices are at their highest prices in over a year. The rise in crude prices occurred after the Energy Information Administration’s weekly report revealed that total domestic crude inventories decreased by 6.6 million bbl to 469 million bbl, while total refinery crude utilization increased slightly from 82.3% to 83% last week. If supplies continue to tighten, as utilization increases, crude prices could continue to climb this week.

Moreover, record cold and icy weather in the Southwest has taken 2 million b/d of refining capacity off-line and shuttered approximately 1 million b/d of crude production in the region. The closures are expected to put pressure on pump prices in the region and could send domestic crude prices higher this week.

At the close of Friday’s formal trading session, WTI increased by $1.23 to settle at $59.47, which is the highest settlement price since January 2020. The New York Stock Exchange and Nasdaq were closed yesterday in observance of President’s Day. Today crude is trading around $60, compared to $58 a week ago. Crude prices are about $8 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 2-16-2021

Diesel

For the week, the national average jumps seven cents to $2.78 a gallon. Oregon’s average adds three cents to $2.83. A year ago the national average for diesel was $2.89 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://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 61 million motorists in North America.

 

Updated 2/9/2021

No Love at the Pumps this February; Gas Prices Continue to Climb

PORTLAND, Ore., – Gas prices are rising in Oregon and just about every other state this week due to higher crude oil prices and the market’s growing optimism that demand will increase as more people receive COVID-19 vaccinations. For the week, the national average for regular jumps a nickel to $2.47 a gallon. The Oregon average also adds a nickel to $2.75.

National State Local Gas Prices 2-9-2021

The national average is at its highest price since February of last year. The Oregon average is at its highest price since last March.

Crude oil prices are back at levels last seen in January 2020, prior to the coronavirus pandemic. Prices rose to $56/bbl last week following the Organization of the Petroleum Exporting Countries’ (OPEC) decision to keep their production cuts unchanged—a decision influenced by the ongoing impact of the pandemic on gasoline demand. Typically, it can take a few weeks before pump prices see the impact of more expensive crude, and with crude accounting for more than 50% of the retail price, increases are no doubt going to continue.

“Consumers can expect to keep paying more to fill up this month, potentially up to 10 cents more a gallon, depending on how high crude oil prices go,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “If demand grows, that will further fuel pump price increases.”

Gas prices continued to climb this past week despite a drop in gasoline demand. According to the latest U.S. Energy Information Administration (EIA) measurements, demand declined from 7.83 million b/d to 7.77 million b/d. A year ago, demand was 8.9 million b/d. Gasoline demand remains relatively 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.

Oregon is one of 48 states and the District of Columbia with higher prices now than a week ago. Michigan (+11 cents) has the largest weekly increase. Delaware (- 1 cent) is the only state with a weekly decline. The average is Maryland is flat.

For the 35th week in a row, California ($3.45) and Hawaii ($3.35) 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 ($2.15) and Texas ($2.17). For the fifth 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 16 cents more and the Oregon average is 12 cents more than a month ago. This is the 41st-largest month-over-month increase in the nation. Michigan (+32 cents) has the largest monthly increase in the country. Delaware (+2 cents) has the smallest.

Oregon is one of 18 states with lower prices now than a year ago. This past Saturday, February 6, was the first time in 340 days the national average was more expensive than a year ago. Currently, the national average is three cents more and the Oregon average is 23 cents less than a year ago. This is the fourth-largest yearly drop in the nation. Arizona (-35 cents) has the largest year-over-year decline. Delaware (+26 cents) has the biggest yearly 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    2/9/21
1 California $3.45
2 Hawaii $3.35
3 Washington $2.88
4 Nevada $2.79
5 Pennsylvania $2.76
6 Oregon $2.75
7 District of Columbia $2.65
8 Illinois $2.65
9 Alaska $2.65
10 New Jersey $2.62

California is the most expensive state for the fifth week in a row, with Hawaii, Washington, and Nevada rounding out the top four. Oregon is sixth for the fourth week in a row. Alaska is ninth and Arizona is 20th.

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

Prices increased in every state in the West Coast region this week. Oregon (+5 cents) has the largest weekly increase in the region. Hawaii (-2 cents) 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 33.60 million bbl to 33.71 million bbl last week. This may help moderate pump price increases in the region this week.

Oil market dynamics

Crude oil prices are at their highest prices since January of 2020. Crude prices rose last week after OPEC and its production reduction agreement partners met to review compliance with their agreement to collectively reduce crude production by 7.2 million b/d. The group decided to hold the cuts steady and expects output to remain low this year since demand is forecasted to be lower than expected in 2021, due to ongoing crude demand concerns as the pandemic continues.

Crude prices were also bolstered by the U.S. Energy Information Administration’s (EIA) latest report showing that total domestic crude inventories dropped by 1 million bbl to 475.7 million bbl. For this week, crude prices may continue to climb if the next weekly EIA report shows another reduction in total domestic crude inventories.

At the close of Friday’s formal trading session, WTI increased by 62 cents to settle at $56.85. At the close of Monday’s formal trading session, WTI rose $1.12 to settle at $57.97. Today crude is trading around $58, compared to $55 a week ago. Crude prices are up about 11 percent in the last month and are about $7 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 2-8-2021

Diesel

For the week, the national average jumps a nickel to $2.70 a gallon. Oregon’s average adds four cents to $2.80. A year ago the national average for diesel was $2.91 and the Oregon average was $3.19.

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 61 million motorists in North America.

 

Updated 2/2/2021

Rising Crude Prices put Brakes on Savings at the Pumps

PORTLAND, Ore., – Gas prices continue to climb due to higher crude oil prices, despite a drop in U.S. demand and an increase in supplies. For the week, the national average for regular rises two cents to $2.42 a gallon. The Oregon average also gains two cents to $2.70.

National State Local Gas Prices 2-2-21

For the last 337 days, the national gas price average has been cheaper year-over-year—as much as $1.12 a gallon less. However, AAA predicts that trend will end as early as this week. Currently, the national average is just a nickel less than a year ago. That gap is much larger in Oregon as the current average is 27 cents less than one year ago.

“For nearly a year, drivers have been saving 53 cents a gallon, on average, when filling up their gas tanks. That extra pocket change is quickly going away due to rising crude oil prices that have made for more expensive pump prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Gas prices continued to climb this past week despite a drop in gasoline demand and refinery utilization. According to the latest U.S. Energy Information Administration (EIA) measurements, demand declined from 8.11 million b/d to 7.83 million b/d and total refinery utilization decreased from 82.5 percent to 81.7 percent over last week. These decreases led to an increase in gasoline supply of 2.4 million bbl.

Typically, these factors (decrease in demand, increase in supply) drive a drop at the pump, but sustained crude oil prices are pushing the increase. For three weeks, crude continued to price between $52 and $53/bbl, and then increased above $54/bbl this week. These are price points not seen since mid-February 2020. Gas prices are expected to continue to increase as crude oil prices remain at these price points, even as gasoline demand remains below 2020 levels 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.

Oregon is one of 46 states with higher prices now than a week ago. Indiana (+9 cents) has the largest weekly increase. Delaware (-1 cent) has the largest weekly decrease.

For the 34th week in a row, California ($3.42) and Hawaii ($3.33) 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 ($2.11) and Missouri ($2.13). For the fourth 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 13 cents more and the Oregon average is 10 cents more than a month ago. This is the 45th-largest month-over-month increase in the nation. West Virginia (+24 cents) has the largest monthly increase in the country. Hawaii (+4 cents) has the smallest.

Oregon is one of 39 states and the District of Columbia with lower prices now than a year ago. The national average is five cents less and the Oregon average is 27 cents less than a year ago. This is the sixth-largest yearly drop in the nation. Arizona (-38 cents) has the largest year-over-year decline. Delaware (+23 cents) has the biggest yearly 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  2/2/21
1 California $3.42
2 Hawaii $3.33
3 Washington $2.84
4 Nevada $2.77
5 Pennsylvania $2.71
6 Oregon $2.70
7 Alaska $2.62
8 District of Columbia $2.61
9 Illinois $2.59
10 New Jersey $2.57

California is the most expensive state for the fourth week in a row, with Hawaii, Washington, and Nevada rounding out the top four. Oregon is sixth for the third week in a row. Alaska is seventh and Arizona is 16th.

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

States in the West Coast region are seeing relatively small changes in gas prices in the last week. California (+4 cents) has the largest weekly increase in the region. Alaska (+1 cent) has the smallest week-over-week increase. Hawaii (-1 cent) is the only state in the region with a weekly decrease.

According to EIA’s latest weekly report, total gas stocks in the region increased from 32.67 million bbl to 33.60 million bbl last week. This may temper pump price increases in the region this week.

Oil market dynamics

This week crude oil prices have jumped to a one-year high due to declining global supplies and rising winter fuel demand as a major snow storm pummels the East Coast. Crude prices are poised to continue rising this week.

Crude oil price gains were limited last week by ongoing market concern that crude demand may take more time than expected to recover in 2021 due to new coronavirus infections and associated travel restrictions. However, EIA’s new weekly report prompted crude price increases earlier in the week after it showed total domestic crude inventories declined by 9.9 million bbl to 476.7 million bbl, which is the largest weekly decline since late July 2020. For this week, crude prices may rise optimism due to declining global supplies.

At the close of Friday’s formal trading session, WTI decreased by 14 cents to settle at $52.20. At the close of Monday’s formal trading session, WTI rose $1.35 to settle at $53.55. Today crude is trading around $55, compared to $53 a week ago. Crude prices are up about 16 percent in the last month and are about $2 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 map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

National Gas Price Comparison 2-2-2021

Diesel

For the week, the national average adds a penny to $2.65 a gallon. Oregon’s average holds steady at $2.75. A year ago the national average for diesel was $2.95 and the Oregon average was $3.21.

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 61 million motorists in North America.

 

Updated 1/26/2021

Jump in Gasoline Demand has Little Impact on Prices or Supplies

PORTLAND, Ore., – U.S. demand for gasoline shot up in the last week which would usually translate to fairly large gains in pump prices. However, most states including Oregon are seeing minimal increases. For the week, the national average for regular ticks up a penny to $2.40 a gallon. The Oregon average also adds a penny to $2.69.

National State Local Gas Prices 1-26-21

Gasoline demand jumped from 7.53 million b/d to 8.11 million b/d according to the latest report from the U.S. Energy Information Administration (EIA). For the week ending January 20, gasoline supply saw a small decrease of 300,000 bbl. At 245 million bbl, supply levels lag behind last year’s reading at this time by 15 million bbl.

“Drivers continue to see pump prices rise but at a slower rate than the past few weeks. Part of that is due to relatively stable crude oil prices throughout January,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “However, if demand continues to grow, we can expect pump prices to move higher.”

Demand remains below 2020 levels for this time of year due to the coronavirus pandemic, but the gap is narrowing. A year ago demand was at 8.7 million b/d. Demand fell to a low of 5.1 million b/d in early April 2020, as many states enacted lock downs and travel restrictions.

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 43 states and the District of Columbia with higher prices now than a week ago. Nebraska (+5 cents) has the largest weekly increase. Indiana (- 5 cents) has the largest weekly decrease. The average in North Carolina is flat.

For the 33rd week in a row, California ($3.38) and Hawaii ($3.34) 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 ($2.10) and Texas ($2.11). For the third week in a row, no state has an average below $2 a gallon.

Oregon is one of 49 states and the District of Columbia with higher prices now than a month ago. The national average is 15 cents more and the Oregon average is 10 cents more than a month ago. This is the 41st-largest month-over-month increase in the nation. West Virginia (+24 cents) has the largest monthly increase in the country. Montana (+5 cents) has the smallest. Indiana (-3 cents) is the only state with a month-over-month decline.

Oregon is one of 48 states and the District of Columbia with lower prices now than a year ago. The national average is 12 cents less and the Oregon average is 30 cents less than a year ago. This is the sixth-largest yearly drop in the nation. Arizona (-41 cents) has the largest year-over-year decline. Iowa (-1 cent) has the smallest. Delaware (+20 cents) and Maryland (+5 cents) are the only states with year-over-year increases.

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    1/26/21
1 California $3.38
2 Hawaii $3.34
3 Washington $2.82
4 Nevada $2.74
5 Pennsylvania $2.70
6 Oregon $2.69
7 Alaska $2.61
8 District of Columbia $2.61
9 New Jersey $2.55
10 Illinois $2.54

California is the most expensive state for the third week in a row, with Hawaii, Washington, and Nevada rounding out the top four. Oregon is sixth for the second week in a row. Alaska is seventh and Arizona is 16th.

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

Like other states in the nation, West Coast states are seeing small increases in gas prices in the last week. California (+3 cents) has the largest weekly increase in the region. Oregon (+1 cent) has the smallest weekly increase in the region.

According to EIA’s latest weekly report, total gas stocks in the region decreased from 33.18 million bbl to 32.67 million bbl last week. This may put some upward pressure on pump prices in the region this week.

Oil market dynamics

Crude prices declined last week following market concerns that crude demand may suffer as coronavirus infections rise and travel restrictions, which are meant to curb transmission of the virus, reduce crude demand. Additionally, EIA’s latest weekly report revealed that total domestic crude inventories rose by 4.4 million bbl to 486.6 million bbl, which also put downward pressure on crude prices. For this week, crude prices may continue to drop if market concern regarding demand continues to grow.

At the close of Friday’s formal trading session, WTI decreased by 86 cents to settle at $52.27. At the close of Monday’s formal trading session, WTI rose 50 cents to settle at $52.77. Today crude is trading around $52, compared to $53 a week ago. Crude prices are up about 10 percent in the last month and are about $1 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 1-26-21

Diesel

For the week, the national average adds a penny to $2.64 a gallon. Oregon’s average edges up half a cent to $2.76. A year ago the national average for diesel was $2.98 and the Oregon average was $3.23.

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 61 million motorists in North America.

 

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 are 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 61 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 61 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 61 million motorists in North America.