Oregon gas prices fall another 11.5 cents/gallon; GasBuddy analyst says more declines likely, despite war in Israel

CHICAGO (KTVZ) -- Average gasoline prices in Oregon have fallen 11.5 cents per gallon in the last week, averaging $4.59/g Monday, according to GasBuddy's survey of 1,307 stations in Oregon.

Prices in Oregon are 10.2 cents per gallon lower than a month ago and stand 90.2 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Oregon was priced at $3.99/g Sunday while the most expensive was $5.29/g, a difference of $1.30/g.

The national average price of gasoline has fallen 10.2 cents per gallon in the last week, averaging $3.67/g Monday. The national average is down 13.8 cents per gallon from a month ago and stands 25.0 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

The national average price of diesel has fallen 4.0 cents in the last week and stands at $4.48 per gallon.

Historical gasoline prices in Oregon and the national average going back 10 years:
October 9, 2022: $5.50/g (U.S. Average: $3.92/g)
October 9, 2021: $3.72/g (U.S. Average: $3.26/g)
October 9, 2020: $2.57/g (U.S. Average: $2.18/g)
October 9, 2019: $3.19/g (U.S. Average: $2.65/g)
October 9, 2018: $3.26/g (U.S. Average: $2.91/g)
October 9, 2017: $2.76/g (U.S. Average: $2.47/g)
October 9, 2016: $2.51/g (U.S. Average: $2.25/g)
October 9, 2015: $2.39/g (U.S. Average: $2.32/g)
October 9, 2014: $3.58/g (U.S. Average: $3.24/g)
October 9, 2013: $3.57/g (U.S. Average: $3.34/g)

Neighboring areas and their current gas prices:
Eugene- $4.51/g, down 9.8 cents per gallon from last week's $4.60/g.
Salem- $4.50/g, down 13.4 cents per gallon from last week's $4.63/g.
Portland- $4.75/g, down 9.3 cents per gallon from last week's $4.84/g.

"At long last, the decline in gas prices that we've been waiting to see has arrived, and the locomotive of falling prices has only recently started on a downhill, gaining momentum. However, some new caution signs have emerged with the recent attacks on Israel, potentially destabilizing a sensitive region. I'm hopeful the violence won't spread, limiting the impact to these falling gas prices. Even with oil prices rising as a reaction to the attacks, I remain optimistic the national average could decline another 25-45 cents by late November, with prices falling potentially nearly triple that in California," said Patrick De Haan, head of petroleum analysis at GasBuddy.

"Even the price of diesel has seen downward pressure with oil prices plummeting last week on fears that the Fed will be forced to continue raising rates, eating into demand growth, leading a barrel of crude to drop into the mid-$80s, but we remain concerned about a potentially destabilized Middle East and the potential impact to oil prices, should the region see violence escalate."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://prices.GasBuddy.com.

GasBuddy also fuels KTVZ.COM's Pump Patrol, featuring the lowest citizen-reported gas prices on the High Desert.