Oregon gas prices on the rise again

Retail gas prices are climbing again in Oregon, due to sharply rising crude oil prices, AAA Oregon/Idaho reported Tuesday.

Crude reached its most expensive levels of 2015 last week as supplies built more slowly than anticipated.

For the week, the national average for regular unleaded adds seven cents to $2.46 a gallon, while Oregon’s average gains four cents to $2.73, said AAA Oregon/Idaho Public Affairs Director Marie Dodds.

“Despite the increase, consumers continue to enjoy substantially lower gas prices compared to recent years, with pump prices at their lowest level for this date since 2009, when the national average was $2.06 and the Oregon average was $2.23 a gallon,” Dodds said.

Oregon is one of only 13 states where prices have fallen in the last month, with the largest savings in California, (-12 cents), Hawaii (-9 cents) and Oregon (-8 cents).

Consumers in the majority of states (37 and Washington, D.C.) are paying more to refuel their vehicles.

Pump prices are up by a nickel or more per gallon in 23 states and Washington D.C., and drivers in seven states are paying a dime or more per gallon. Utah (+17 cents) and Kentucky (+17 cents lead the market, registering the largest month-over-month increases.

Oregon is one of 49 states and Washington D.C. where pump prices have climbed higher in the last week. Thirty-six states have seen average prices rise by a nickel or more per gallon, and drivers in eight states are paying a dime or more per gallon than one week ago.

The largest increases have been in the Northeast, led by New Jersey (+14 cents) and Connecticut (+13 cents). Hawaii (-3 cents), consistently one of the nation’s most expensive markets, is the lone state to buck this trend as motorists experience a slight weekly savings at the pump.

West Texas Intermediate crude oil prices settled at a 2015 high of $56.71 a barrel last Thursday as the latest report from the U.S. Energy Information Administration showed that oil supplies increased at the slowest levels since the beginning of the year.

The market also weighed potential geopolitical concerns in the Middle East and a weakening dollar. Domestic oil prices are more than $10 per barrel higher than a month ago, which has contributed to higher gas prices.

Planned and unplanned refinery problems also continue to affect the market, and may continue to impact prices heading into the summer driving season.

These events can have lingering regional impacts, as has been the case on the West Coast, where retail prices continue to be among the highest in the nation.

This comes despite reports last week that California gasoline production is at a four-month high.

While trending higher, the state’s numbers still reflect reduced production at the ExxonMobil refinery in Torrance, Calif., which reduced production following a February 18 explosion. The refinery is not scheduled to complete its repair of damaged equipment until July, so regional prices may remain stubbornly high and sensitive to further production issues until that facility is back to full strength.

California ($3.16) continues to have the nation’s highest retail average for gasoline, and is followed by Hawaii ($3.06), Alaska ($3.00), Nevada ($2.81), Washington ($2.75) and Oregon ($2.73). Drivers in South Carolina ($2.22) and Mississippi ($2.24) are paying the lowest averages at the pump.

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