Oregon's Gas Prices Reach New Record Highs

More pain at the pumps as the Oregon and national averages for regular unleaded reach new record highs today.

Salem-News.com

(PORTLAND, Ore.) - Crude oil prices are back up in record territory of about $113 per barrel amid concerns about global supply.

"Gas prices are soaring with the national average and the Oregon average at new record highs." AAA Oregon Public Affairs Director Marie Dodds says the statewide average for regular unleaded in Oregon is up seven cents in the past week to $3.492, while the national average jumps up five-and-a-half cents to $3.386.

A report by the Paris-based International Energy Agency says that oil production in Russia dropped this year for the first time in a decade. Another factor is the weather-related closure of Mexico's three main oil-exporting ports on the Gulf Coast. In addition, a weak U.S. dollar tends to drive investors to commodities such as oil and gold.

Gas prices are expected to continue to rise as the spring and summer driving season draws closer. We've heard projections of $4 per gallon gas, which is more than 60-cents higher than the current national average. A jump that large seems unlikely, but could indeed be a possibility if there's a major disruption in oil distribution.

Prices at the pumps continue to be much higher than they were a year ago. The national average was $2.86 last year, while Oregon's average was $3.06.

Portland price of $3.468 a gallon for self serve regular was the lowest average in the state, with Salem having the next cheapest average of $3.453 for a gallon of regular. Drivers in Eugene/Springfield are paying an average of $3.519 at the pump and Medford/Ashland motorists are paying $3.541 for a gallon of regular gas. Self serve gas in Vancouver, Washington is selling for an average of $3.520 a gallon.

Oregon's gas prices are seventh highest in the nation, up from eighth highest last week. California has the most expensive gas in the country at $3.80 a gallon, followed by Hawaii at $3.71, Alaska at $3.65, Washington at $3.56, and Nevada at $3.53. New Jersey has the least expensive gas in the country again this week at $3.13 per gallon.

The Oregon and national averages for diesel are also at record highs. The national average is $4.119 and Oregon's average is $4.205. And diesel prices in Portland, Salem, Eugene/Springfield and Medford/Ashland are at or near record highs.

New York has the highest statewide average price for diesel again this week at $4.44, followed by Connecticut at $4.37, California at $4.36, Pennsylvania at $4.34 and Washington at $4.31. Oregon's diesel prices are the 12th most expensive in the nation.

A year ago the national average for diesel was $2.94 and Oregon's average was $2.92.

Source: AAA Oregon

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