Oregon gas price average falls below $3 a gallon
The Oregon average price of gasoline is at its lowest price since October 2010 — and more decline is expected in coming weeks, AAA Oregon/Idaho reported Tuesday.
The average dipped below $3 a gallon last Thursday for the first time since November 12, 2010. For the week, the Oregon average plunges nine cents to $2.92 a gallon. The national average nosedives a dime to $2.66 a gallon and is at its lowest price since February 2010.
AAA Oregon/Idaho Public Affairs Director Marie Dodds said, “As crude oil prices continue to slide, the national average could test $2.50 by Christmas and the Oregon average could fall to around $2.75.”
Pump prices have already tumbled more than a dollar from the 2014 peak prices. The national average peaked at $3.70 a gallon in April and the Oregon average peaked at $3.98 in July.
Gas prices normally go down in the fall due to decreased demand and the switch to the cheaper winter-blend fuels. This year, plentiful global crude oil supplies have sent crude oil prices plummeting, and AAA says consumers can expect retail gas prices to continue to move lower as we approach New Year’s Day.
However, crude oil would have to fall by another $25 to $30 per barrel to cause the national average to drop below the $2 per gallon threshold this winter, which remains unlikely, the agency says.
The price of oil accounts for approximately two-thirds of the price at the pump, and a $10 per barrel drop in the price of crude oil results in about a 25-cent drop in retail prices for consumers.
While it’s doubtful that any state’s average will fall below $2 per gallon, there are individual stations in the nation’s cheapest markets where drivers can currently fill up for less than $2.
Oregon is one of 47 states and Washington D.C. where the current average is below the $3 mark. The nation’s most expensive markets are Hawaii ($3.77) and Alaska ($3.44), followed by the Northeastern states of New York ($3.07) and Connecticut ($3.01). These are the only four states where the average is more than $3. Consumers in Missouri are paying the least at $2.35 per gallon.
Regular Unleaded
Current
Week Ago
Month Ago
Year Ago
Highest Rec. Avg. Price
Date
National Average
$2.655
$2.760
$2.933
$3.263
$4.114
7/17/2008
Oregon Average
$2.922
$3.011
$3.074
$3.284
$4.294
7/3/2008
Portland
$2.910
$2.982
$3.044
$3.271
$4.278
6/21/2008
Salem
$2.912
$2.989
$3.085
$3.246
$4.262
7/8/2008
Eugene/Springfield
$2.903
$2.986
$3.040
$3.321
$4.330
6/28/2008
Medford/Ashland
$2.934
$3.006
$2.989
$3.319
$4.379
7/11/2008
Bend
$2.867
$2.977
$3.070
$3.292
$4.345
6/20/2008
Vancouver, WA
$2.899
$2.984
$3.027
$3.277
$4.349
6/28/2008
For the fifth week in a row, there are no states with an average price for regular unleaded at or above $4 a gallon. Forty-seven states have averages below $3 per gallon, up from 42 a week ago. Two additional states are within a dime of the $3 mark.
Hawaii has the most expensive gas in the country for the 111 th consecutive week at $3.77, followed by Alaska at $3.44, New York at $3.07, Connecticut at $3.01 and Vermont at $2.98. California is sixth at $2.97 (down eight cents and sixth for the third week in a row. It’s the first time since 2010 the California average has dropped below $3). Washington is seventh at $2.97 (down eight cents and down from fifth last week). Oregon is ninth down from eighth last week at $2.92 (down nine cents). Idaho is 16 th down from 10 th last week at $2.81 (down 16 cents). Missouri has the cheapest gas in the nation for the third week in a row at $2.35 a gallon (down nine cents).
Diesel prices are also moving lower. The national average falls seven cents to $3.49 a gallon. Oregon’s average skids 11 cents to $3.45. Diesel is at or above $4 a gallon in just one state, down from two last week. Hawaii is most expensive at $4.79, followed by North Dakota at $3.99, Michigan at $3.81, Minnesota at $3.78 and Alaska at $3.75. ). Idaho is 17 th up from 19 th at $3.59 (down eight cents). California is 18 th down from 17 th last week at $3.59 (down eight cents). Washington is 20 th down from 18 th last week at $3.58 (down nine cents). Oregon is 32 nd down from 29 th last week. A year ago, the national average for diesel was $3.85 and Oregon’s was $3.86.
For the lowest citizen-reported gas prices in your neighborhood, check out KTVZ.COM’s Pump Patrol.
