Oregon gas prices see slight relief, but national averages may rise again

BEND, Ore. (KTVZ) -- Average gasoline prices in Oregon decreased 2.0 cents per gallon in the last week, currently averaging $4.92/g. This mirrors a national trend where the average price of gasoline fell 9.4 cents per gallon to $3.97/g, dipping below the $4 per gallon mark.

Despite the recent decline, gasoline prices in Oregon are 15.8 cents per gallon higher than a month ago and stand $1.05/g higher than a year ago. The national average price for gasoline is up 3.9 cents per gallon from a month ago and 87.4 cents per gallon higher compared to a year ago.

The national average price of diesel has also decreased by 11.7 cents compared to a week ago, now standing at $5.500 per gallon.

“Average gasoline prices declined in 48 states over the last week, while diesel prices fell in 46 states, offering a welcome break at pumps, with the national average price of gasoline dipping below the $4 per gallon mark over the weekend,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, that relief may prove fleeting. Oil prices surged in Sunday night trading after Iran re-closed the Strait of Hormuz and President Trump signaled further escalation if Tehran does not come to an agreement. With global oil flows remaining at risk, renewed volatility is taking hold, and the continued back-and-forth is making any lasting resolution increasingly fragile. As a result, gasoline prices are likely to rise again in the days ahead, with diesel expected to follow if disruptions persist, and many of the states that exhibit price cycling could see increases in the next 24-48 hours.”