2023 Oregon Gas Price News

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

For 2022 gas price updates, visit our 2022 Gas Price News page.

Updated 1/24/2023

Pump Prices Surge as Gasoline Demand, Crude Oil Prices Climb

Oregon has fifth-smallest weekly gain, third-largest monthly drop and second-largest yearly decline in the nation

PORTLAND, Ore., – Drivers appear to be taking advantage of milder winter weather across much of the country by fueling up and driving more. The increase in demand for gasoline and more expensive crude oil have pushed pump prices higher. For the week, the national average for regular unleaded jumps 12 cents to $3.44. The Oregon average adds four cents to $3.72. This is the fifth-smallest weekly gain for a state in the nation.

National State Local Gas Prices 1-24-23

“The relatively mild winter weather and the cost of crude oil rising above $80 per barrel have put upward pressure on pump prices for now. If demand remains strong, it’s likely we’ll see continued upward momentum in pump prices through the week,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Crude oil is trading around $80 per barrel today. This month, West Texas Intermediate has ranged between about $73 and $82 bbl. and was $83 a year ago. Crude reached recent highs of $123.70 on March 8, 2022, and $122.11 per barrel on June 8, 2022. The all-time high for WTI crude oil is $147.27 in July 2008.

Crude oil prices tend to rise in response to positive economic news as countries with growing economies tend to consume more oil than countries with shrinking economies.

Crude prices rose dramatically leading up to and in the first few months of Russia’s invasion of Ukraine. Russia is one of the world’s top oil producers and its involvement in a war causes market volatility, and sanctions imposed on Russia by the U.S. and other western nations resulted in tighter global oil supplies. Oil supplies were already tight around the world as demand for oil increased as pandemic restrictions eased.

Crude oil is the main ingredient in gasoline and diesel, so pump prices are impacted by crude prices on the global markets. On average, about 56% of what we pay for in a gallon of gasoline is for the price of crude oil, 20% is refining, 11% distribution and marketing, and 14% are taxes, according to the U.S. Energy Information Administration.

Demand for gasoline in the U.S. rose from 7.56 million to 8.05 million b/d last week. This compares to 8.22 million b/d a year ago. Meanwhile, total domestic gasoline stocks increased by 3.5 million bbl to 230.3 million bbl. for the week ending January 13. If demand remains strong, pump prices are likely to continue to climb this week.

Quick stats

Oregon is one of 48 states and the District of Columbia with higher prices week-over-week. Colorado (+27 cents) has the largest weekly jump, followed by Tennessee (+21 cents), and Georgia (+20 cents). Hawaii (-4 cents) and Indiana (-4 cents) are the only two states with weekly declines.

Hawaii ($4.95) is the state with the most expensive gas in the nation for the ninth week in a row. California ($4.45) is second and Washington $4.07 is third. These are the only three states with averages at or above $4 a gallon. This week 47 states and the District of Columbia have averages in the $3-range. No states have averages below $3 a gallon.

The cheapest gas in the nation is in Texas ($3.07) and Kansas ($3.10). For the 106th week in a row, no state has an average below $2 a gallon.

The difference between the most expensive and least expensive states is $1.88 this week compared to $2.06 last week so the gap is shrinking.

Oregon is one of only four states with lower prices now than a month ago. The national average is 35 cents more and the Oregon average is five cents less than a month ago. Oregon has the third-largest monthly decrease in the nation. Hawaii (-11 cents) and Idaho (-7 cents) have the largest monthly declines. Colorado (+87 cents) and Georgia (+59 cents) have the largest monthly gains.

Oregon is one of only seven states with lower prices now than a year ago. The national average is 12 cents more and the Oregon average is 20 cents less than a year ago. This is the second-largest yearly drop in the nation. Montana (-21 cents) has the largest year-over-year decline. Hawaii (+60 cents) and Ohio (+42 cents) have the biggest year-over-year jumps.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with six of the seven states in the top 10. This is typical for the West Coast as this region tends to consistently have fairly tight supplies, consuming about as much gasoline as is produced. In addition, this region is located relatively far from parts of the country where oil drilling, production and refining occurs, so transportation costs are higher. And environmental programs in this region add to the cost of production, storage and distribution.

Rank Region  Price on 1/24/23
1 Hawaii $4.95
2 California $4.45
3 Washington $4.07
4 Nevada $3.95
5 Alaska $3.75
6 Oregon $3.72
7 Pennsylvania $3.71
8 Colorado $3.69
9 District of Columbia $3.63
10 Illinois $3.59

As mentioned above, Hawaii is the most expensive state in the nation, with California, Washington, Nevada, Alaska, and Oregon rounding out the top six. Arizona is 14th. Oregon is sixth most expensive for the third week in a row.

All states in the West Coast region are seeing small to moderate changes for the week. Arizona (+8 cents) and Washington have the largest weekly increases in the region. Hawaii (-4 cents) is the only state in the region with a weekly decline.

The refinery utilization rate on the West Coast fell from 84.4% to 80.3% for the week ending January 13. This rate has ranged between about 76% to 92% in the last year.

According to EIA’s latest weekly report, total gas stocks in the region edged up from 34.07 million bbl. to 34.39 million bbl.

Oil market dynamics

Crude prices rose at the end of last week due to increased market optimism that crude demand may be more robust than expected this year. In particular, the market believes that the re-opening of China’s economy, despite high coronavirus infection rates, will help to bolster global crude demand, while supporting elevated prices. For this week, crude prices could continue to climb if ongoing market optimism persists.

At the close of Friday’s formal trading session, WTI increased by $1.03 to settle at $81.64. At the close of Monday’s formal trading session, WTI slipped three cents to close at $81.61. Today crude is trading around $80, compared to $80 a week ago. Crude prices are about $4 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 1-23-23

Diesel

For the week, the national average adds four cents to $4.64 a gallon. The record high is $5.816 set on June 19. The Oregon average adds half a cent to $4.73. The record high is $6.47 set on July 3. A year ago the national average for diesel was $3.67 and the Oregon average was $4.09.

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 875,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 63 million motorists in North America.

 

Updated 1/17/2023

Higher Crude Oil Prices Put Upward Pressure on Pump Prices

Oregon has third-largest monthly and yearly drops in the nation

PORTLAND, Ore., – The short days and winter weather of January are making people drive less, lowering gasoline demand. But the price of crude oil has climbed higher as fears of a global recession ease. This is putting upward pressure on pump prices. For the week, the national average for regular unleaded rises six cents to $3.33. The Oregon average slips a penny to $3.69.

National State Local Gas Prices 1-17-23

“Demand for gas is usually lackluster this time of year and typically starts to tick up as the days get longer and spring break gets closer. So the main driver of higher pump prices this time of year is the higher cost of crude oil, which accounts for more than half of what we pay at the pumps,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Crude oil is trading around $80 per barrel. This month, West Texas Intermediate has ranged between about $73 and $81 per barrel and was $84 a year ago. Crude reached a recent high of $122.11 per barrel on June 8. The all-time high for WTI crude oil is $147.27 in July 2008.

Crude oil prices tend to rise in response to positive economic news as countries with growing economies tend to consume more oil than countries with shrinking economies.

Crude prices rose dramatically leading up to and in the first few months of Russia’s invasion of Ukraine. Russia is one of the world’s top oil producers and its involvement in a war causes market volatility, and sanctions imposed on Russia by the U.S. and other western nations resulted in tighter global oil supplies. Oil supplies were already tight around the world as demand for oil increased as pandemic restrictions eased.

Crude oil is the main ingredient in gasoline and diesel, so pump prices are impacted by crude prices on the global markets. On average, about 56% of what we pay for in a gallon of gasoline is for the price of crude oil, 20% is refining, 11% distribution and marketing, and 14% are taxes, according to the U.S. Energy Information Administration.

Demand for gasoline in the U.S. tumbled after Christmas and has remained pretty steady the past couple weeks, rising slightly from 7.51 million b/d to 7.56 b/d for the week ending January 6. This compares to 7.91 million b/d a year ago. Total domestic gasoline stocks rose from 222.7 million bbl to 226.8 million bbl. Flat gasoline demand and increased supply are contributing to limited pump price increases.

Quick stats

Oregon is one of only 11 states with lower prices week-over-week. Alaska (-2 cents) has the largest weekly drop, followed by Nevada (-2 cents) and Hawaii (-2 cents). Colorado (+33 cents) has the largest week-over-week increase, followed by Georgia (+30 cents) and Indiana (+17 cents). The averages in New York, Maryland and Delaware are flat.

Hawaii ($4.99) is the state with the most expensive gas in the nation for the eighth week in a row, and drops below $5 a gallon. California ($4.43) is second and Washington $4.00 is third. These are the only three states with averages at or above $4 a gallon. This week 40 states and the District of Columbia have averages in the $3-range, and seven states have averages below $3 a gallon.

The cheapest gas in the nation is in Mississippi ($2.93) and Texas ($2.95). For the 105th week in a row, no state has an average below $2 a gallon.

The difference between the most expensive and least expensive states is $2.06 which continues to be stark.

Oregon is one of 17 states with lower prices now than a month ago. The national average is 17 cents more and the Oregon average is 17 cents less than a month ago. Oregon has the third-largest monthly decrease in the nation. Idaho (-27 cents) and Utah (-21 cents) have the largest monthly declines. Colorado (+53 cents) and Wisconsin (+39 cents) have the largest monthly gains.

Oregon is one of 21 states with lower prices now than a year ago. The national average is two cents more and the Oregon average is 23 cents less than a year ago. This is the third-largest yearly drop in the nation. Montana (-34 cents) and Connecticut (-29 cents) have the largest year-over-year declines. Hawaii (+66 cents) has the biggest year-over-year jump.

West Coast

The West Coast region continues to have the most expensive pump prices in the nation with six of the seven states in the top 10. This is typical for the West Coast as this region tends to consistently have fairly tight supplies, consuming about as much gasoline as is produced. In addition, this region is located relatively far from parts of the country where oil drilling, production and refining occurs, so transportation costs are higher. And environmental programs in this region add to the cost of production, storage and distribution.

Rank Region Price on    1/17/23
1 Hawaii $4.99
2 California $4.43
3 Washington $4.00
4 Nevada $3.94
5 Alaska $3.71
6 Oregon $3.69
7 Pennsylvania $3.65
8 District of Columbia $3.54
9 Illinois $3.53
10 New York $3.45

As mentioned above, Hawaii is the most expensive state in the nation, with California, Washington, Nevada, Alaska, and Oregon rounding out the top six. Arizona is 13th. Oregon is sixth most expensive for the second week in a row.

All states in the West Coast region are seeing relatively small changes for the week. Washington (+6 cents) has the largest weekly increase in the region. Alaska (-2 cents) has the largest weekly decline in the region and the country.

The refinery utilization rate on the West Coast slipped from 85.8% to 84.4% for the week ending January 6. This rate has ranged between about 76% to 92% in the last year.

According to EIA’s latest weekly report, total gas stocks in the region increased from 32.77 million bbl.to 34.07 million bbl.

Oil market dynamics

A lower dollar helped to push crude prices higher at the end of last week. Crude oil is priced in U.S. dollars so when the dollar loses value, crude oil becomes less expensive for investors using other currencies. Additionally, after China increased quotas for oil purchases this year, the market rallied as a sign that crude oil demand may be more robust than anticipated. For this week, crude prices could continue to rise if the market sees more indications that global oil demand may be boosted alongside prices in 2023.

At the close of Friday’s formal trading session, WTI increased by $1.47 to settle at $79.86. U.S. Markets were closed Monday in observance of the Martin Luther King Jr. holiday. Today crude is trading around $80, compared to $75 a week ago. Crude prices are about $2 less than a year ago.

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

National Gas Price Comparison 1-17-23

Diesel

For the week, the national average loses four cents to $4.60 a gallon. The record high is $5.816 set on June 19. The Oregon average falls four cents to $4.73. The record high is $6.47 set on July 3. A year ago the national average for diesel was $3.62 and the Oregon average was $4.05.

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 875,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 63 million motorists in North America.

 

Updated 1/10/2023

Pump Price Spike Stalls

Oregon has largest week-over-week decline in the nation

PORTLAND, Ore., – The recent surge in pump prices in other parts of the country caused by winter storms and robust holiday road travel may be hitting the brakes. Increases in the national average and impacted states have flattened, while other states, such as Oregon, are seeing prices dip. For the week, the national average for regular unleaded adds four cents to $3.27. The Oregon average loses four cents to $3.70. This is the largest weekly drop for a state in the nation.

National State Local Gas Prices 1-10-2023

“As we head toward February, pump prices will likely fall a little more, barring any supply disruptions or jolts in the global oil markets,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “However, the national average may have already bottomed out for the winter. The Oregon average may have more room to slip a little more before the seasonal increases begin.”

The national average fell to just under $3.10 on December 23, which was its lowest price this winter and for all of 2022. The lowest price for the Oregon average in 2022 was $3.74 on New Year’s Eve. The Oregon average has continued to decline a few cents since then.

The national average price started to rise daily on Christmas Eve. Increases started to slow late last week and then the national average lost a penny over the weekend and again last night. A winter storm that slammed much of the country late last month with snow, ice and frigid temperatures caused gas prices to spike, as refineries as far south as Texas and the Gulf Coast were forced to shut down temporarily. The storm also caused holiday travelers to fuel up and hit the road early to beat the bad weather, leading to a jump in overall gas demand.

Pump prices in Oregon and other West Coast states weren’t impacted as much, due to our distant location from the impacted refineries.

Crude oil prices began 2023 around $80 per barrel. This week, crude has fallen to around $75 per barrel. Crude prices have remained between about $71 and $81 for the last month, and were $78 a year ago. Crude reached a recent high of $122.11 per barrel on June 8. The all-time high for WTI crude oil is $147.27 in July 2008.

Crude prices rose dramatically leading up to and in the first few months of Russia’s invasion of Ukraine. Russia is one of the world’s top oil producers and its involvement in a war causes market volatility, and sanctions imposed on Russia by the U.S. and other western nations resulted in tighter global oil supplies. Oil supplies were already tight around the world as demand for oil increased as pandemic restrictions eased.

Crude oil is the main ingredient in gasoline and diesel, so pump prices are impacted by crude prices on the global markets. On average, about 56% of what we pay for in a gallon of gasoline is for the price of crude oil, 20% is refining, 11% distribution and marketing, and 14% are taxes, according to the U.S. Energy Information Administration.

Demand for gasoline in the U.S. tumbled after Christmas from 9.33 million b/d to 7.51 million b/d  for the week ending December 30. This compares to 8.17 million b/d a year ago. Total domestic gasoline stocks fell by 300,000 bbl to 222.7 million bbl. Lower gasoline demand has contributed to limiting increases in pump prices.

Quick stats

Oregon is one of only 14 states with lower prices week-over-week. Oregon (-4 cents) has the largest weekly drop, followed by Massachusetts (-3 cents) and Idaho (-3 cents). Ohio (+19 cents) has the largest week-over-week increase, followed by Colorado (+16 cents) and Wyoming (+16 cents). The average in Florida is flat.

Hawaii ($5.00) is the state with the most expensive gas in the nation for the seventh week in a row and is the only state with an average at or above $5 a gallon. California ($4.42) is second. These are the only two states with averages at or above $4 a gallon. This week 37 states and the District of Columbia have averages in the $3-range, and 11 states have averages below $3 a gallon.

The cheapest gas in the nation is in Georgia ($2.81) and Texas ($2.85). For the 104th week in a row, no state has an average below $2 a gallon.

The difference between the most expensive and least expensive states is $2.20 which continues to be stark.

Oregon is one of 27 states and the District of Columbia with lower prices now than a month ago. The national average is three cents less and the Oregon average is 34 cents less than a month ago. Oregon has the fourth-largest monthly decrease in the nation. Idaho (-43 cents), Utah (-41 cents), and Nevada (-35 cents) have the largest monthly declines. New Mexico (-1 cent) has the smallest. Wisconsin (+21 cents) and Ohio (+16 cents) have the largest monthly gains.

Oregon is one of 28 states and the District of Columbia with lower prices now than a year ago. The national average is three cents less and the Oregon average is 20 cents less than a year ago. Montana (-39 cents) has the largest year-over-year decline. Hawaii (+69 cents) has the biggest year-over-year rise.

West Coast

 The West Coast region continues to have the most expensive pump prices in the nation with six of the seven states in the top 10. This is typical for the West Coast as this region tends to consistently have fairly tight supplies, consuming about as much gasoline as is produced. In addition, this region is located relatively far from parts of the country where oil drilling, production and refining occurs, so transportation costs are higher. And environmental programs in this region add to the cost of production, storage and distribution.

As mentioned above, Hawaii is the most expensive state in the nation, with California, Nevada, Washington, Alaska, and Oregon rounding out the top six. Arizona is 11th. Oregon falls to sixth most expensive after eight weeks at fifth.

All states in the West Coast region are seeing relatively small week-over-week changes. Washington (+7 cents) has the largest weekly increase in the region. Oregon (-4 cents) has the largest weekly decline in the region and the nation.

The refinery utilization rate on the West Coast slipped from 87.2% to 85.8% for the week ending December 30. This rate has ranged between about 71% to 92% in the last year.

According to EIA’s latest weekly report, total gas stocks in the region increased from 31.18 million bbl. to 32.77 million bbl.

Rank Region Price on    1/10/23
1 Hawaii $5.00
2 California $4.42
3 Nevada $3.96
4 Washington $3.94
5 Alaska $3.73
6 Oregon $3.70
7 Pennsylvania $3.65
8 District of Columbia $3.46
9 New York $3.45
10 Illinois $3.42

Oil market dynamics

A lower dollar helped to push crude prices higher at the end of the week. Crude oil is priced in U.S. dollars so when the dollar loses value, crude oil becomes less expensive for investors using other currencies. However, crude prices declined earlier in the week amid ongoing global economic concerns due to rising COVID-19 cases in China. Crude prices could decline further this week if economic concerns persist.

At the close of Friday’s formal trading session, WTI increased by 10 cents to settle at $73.77. At the close of Monday’s formal trading session, WTI added 86 cents to settle at $74.63. Today crude is trading around $75, compared to $77 a week ago. Crude prices are about $4 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 1-10-2023

Diesel

For the week, the national average loses four cents to $4.64 a gallon. The record high is $5.816 set on June 19. The Oregon average dips two cents to $4.77. The record high is $6.47 set on July 3. A year ago the national average for diesel was $3.59 and the Oregon average was $3.95.

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 875,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 63 million motorists in North America.

 

Updated 1/3/2023

Severe Winter Weather Causes Temporary Gas Price Spikes in Several States

Oregon is one of only 10 states with a weekly decline

PORTLAND, Ore., – The late December winter storm that slammed much of the country with snow, ice and frigid temperatures caused gas prices to spike, as refineries as far south as Texas and the Gulf Coast were forced to shut down temporarily. The storm also caused holiday travelers to fuel up and hit the road early to beat the bad weather, leading to a jump in overall gas demand. For the week, the national average for regular unleaded shoots up 12 cents to $3.23. The Oregon average slips three cents to $3.74.

National State Local Gas Prices 1-3-23

“Gas prices will likely climb a little more before settling down. It will take some time for production to catch up, and for consumers to return to seasonal driving patterns after the holidays,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Oregon and other West Coast states have been relatively insulated from these increases because of our distant location from the impacted refineries.”

2022 will go down as a record year with a national annual average of $3.96 and an Oregon annual average of $4.71. These are the highest annual averages ever.

Annual Gas Price Averages 2010-2022

The national average began 2022 at $3.29 on January 1 and ended the year at $3.20 on December 31. It peaked at $5.02 on June 14, 2022. The lowest price for the national average in 2022 was just under $3.10 on December 23.

The Oregon average began 2022 at $3.80 and ended the year at $3.74. It peaked at $5.55 on June 15, 2022. The lowest price for the Oregon average in 2022 was $3.74 on December 31.

Crude oil prices began 2023 around $80 per barrel. Crude prices have remained between about $71 and $81 for the last month. Crude reached a recent high of $122.11 per barrel on June 8. The all-time high for WTI crude oil is $147.27 in July 2008.

Crude prices rose dramatically leading up to and in the first few months of Russia’s invasion of Ukraine. Russia is one of the world’s top oil producers and its involvement in a war causes market volatility, and sanctions imposed on Russia by the U.S. and other western nations resulted in tighter global oil supplies. Oil supplies were already tight around the world as demand for oil increased as pandemic restrictions eased. A year ago, crude was around $76 per barrel compared to $78 today.

Crude oil is the main ingredient in gasoline and diesel, so pump prices are impacted by crude prices on the global markets. On average, about 56% of what we pay for in a gallon of gasoline is for the price of crude oil, 20% is refining, 11% distribution and marketing, and 14% are taxes, according to the U.S. Energy Information Administration.

Demand for gasoline in the U.S. rose due to holiday travel from 8.7 million b/d to 9.3 million b/d for the week ending December 23. This compares to 9.7 million b/d a year ago. Total domestic gasoline stocks fell by 3 million bbl to 223 million bbl. More demand and less supply pushed pump prices higher.

Quick stats

Oregon is one of only 10 states with lower prices week-over-week. Utah (-7 cents) has the largest weekly drop, followed by Idaho (-4 cents), and Oregon (-3 cents). Delaware (+33 cents) has the largest week-over-week increase, followed by Florida (+30 cents) and Maryland (+25 cents).

Hawaii ($5.03) is the state with the most expensive gas in the nation for the sixth week in a row and is the only state with an average at or above $5 a gallon. California ($4.43) is second. These are the only two states with averages at or above $4 a gallon. This week 33 states and the District of Columbia have averages in the $3-range, and 15 states have averages below $3 a gallon.

The cheapest gas in the nation is in Georgia ($2.78) and Kansas ($2.83). For the 103rd week in a row, no state has an average below $2 a gallon.

The difference between the most expensive and least expensive states is $2.25 which continues to be stark.

Oregon is one of 49 states and the District of Columbia with lower prices now than a month ago. The national average is 20 cents less and the Oregon average is 50 cents less than a month ago. Oregon has the sixth-largest monthly decrease in the nation. Arizona (-56 cents) and Idaho (-54 cents) have the largest monthly declines. Florida (-1 cent) has the smallest. Texas (+6 cents) is the only state with a monthly increase.

Oregon is one of 39 states with lower prices now than a year ago. The national average is six cents less and the Oregon average is eight cents more than a year ago. Montana (-41 cents) has the largest year-over-year decline. Hawaii (+70 cents) has the biggest year-over-year rise.

West Coast

 The West Coast region continues to have the most expensive pump prices in the nation with six of the seven states in the top 10. This is typical for the West Coast as this region tends to consistently have fairly tight supplies, consuming about as much gasoline as is produced. In addition, this region is located relatively far from parts of the country where oil drilling, production and refining occurs, so transportation costs are higher. And environmental programs in this region add to the cost of production, storage and distribution.

Rank Region Price on    1/3/23
1 Hawaii $5.03
2 California $4.43
3 Nevada $3.98
4 Washington $3.87
5 Oregon $3.74
6 Alaska $3.71
7 Pennsylvania $3.63
8 District of Columbia $3.48
9 Idaho $3.43
10 New York $3.42

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

All states in the West Coast region are seeing relatively small week-over-week changes. California (+6 cents) has the largest weekly increase in the region. Oregon (-3 cents) has the largest weekly decline in the region.

The refinery utilization rate on the West Coast is steady, going from 87.4% to 87.2% for the week ending December 23. This rate has ranged between about 76% to 93% in the last year.

According to EIA’s latest weekly report, total gas stocks in the region increased from 30.88 million bbl. to 31.18 million bbl.

Oil market dynamics

A weaker dollar contributed to rising crude prices last week. Crude oil is priced in U.S. dollars so when the dollar loses value, crude oil becomes less expensive for investors using other currencies. Crude prices rose despite the EIA reporting that total domestic commercial crude stocks increased by 800,000 bbl to 419 million bbl. The increase signals that oil demand may be weakening amid ongoing market concerns that a recession or economic slowdown could occur this year. If economic growth falters, crude demand will likely drop alongside prices.

At the close of Friday’s formal trading session, WTI increased by $1.86 to settle at $80.26. Markets were closed Monday in observance of the New Year’s Day holiday. Today crude is trading around $78, compared to $80 a week ago. Crude prices are about $3 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 1-3-23

Diesel

For the week, the national average adds a penny to $4.68 a gallon. The record high is $5.816 set on June 19. The Oregon average loses five cents to $4.79. The record high is $6.47 set on July 3. A year ago the national average for diesel was $3.57 and the Oregon average was $3.85.

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 875,000 members with travel, insurance, financial and automotive-related services, and is an affiliate of AAA National, serving more than 63 million motorists in North America.