Oregon, National Average Gasoline Prices Moving in Opposite Directions

National average is up about a penny a gallon since last week; Oregon’s statewide average Is down about a penny; Portland leads the way with gas selling a nickel cheaper than Salem.

Salem-News.com

(SALEM) - In the past week, the national average price for a gallon of regular gasoline went up a penny but Oregon's statewide average dropped a penny. In the Portland metropolitan area, the decline was almost 2-cents per gallon.

The Oil Price Information Service, OPIS, which provides AAA's daily fuel price information, said demand is the primary driver behind current prices.

"OPIS analysts indicate West Coast fuel demand is down compared to the rest of the nation," said AAA Oregon Public Affairs Director Elliott Eki. "The most noticeable drop was in California when retail prices hit $3.40 earlier this summer. It appears the tipping point was reached there and motorists really put the skids on discretionary driving, pushing regional demand down."

Portland’s $2.88 is followed by Vancouver, Washington’s $2.92 price for self serve regular. Salem’s $2.93 a gallon average is still ahead of Eugene where drivers are paying $2.99 and the Medford/Ashland area where regular is selling for $3.02.

OPIS said pump prices generally reflect that fuel demand in the Midwest is flat, slightly higher than last year in the northeast and Rocky Mountain regions, but growing briskly in the southeast. Refineries in the Gulf Coast, Midwest and Northeast regions also experienced a number of production interruptions, adding upward pricing pressure. At the same time, prices are propped up by the specter of hurricane season hanging over the Atlantic and Gulf Coast. "The West Coast is enjoying some good fortune—regional refineries are running remarkably smoothly this summer, and, we don't face the potential for hurricanes," Eki said. The continuing violence in the Mideast, however, raises concern about the security of world oil supplies. And, hot weather across much of the United States causes some fear that increased oil demands by utilities could heighten the potential for refinery problems or temporary shutdowns.

Twenty-one states and the District of Columbia now have average gasoline prices of $3 or more per gallon. At $2.96, Oregon’s average gasoline price ranks 30th highest in the nation. Hawaii has the highest statewide average price at $3.36. California’s dipped to $3.22; Nevada’s is $3.05; Washington’s fell to $3.04, and Idaho’s moved up to $2.93. South Carolina has the lowest statewide average price at $2.83. The national average diesel price moved up to $3.04 per gallon. In California, diesel averages $3.25 per gallon; in Washington, it’s up to $3.22; in Idaho, it's $3.19; in Nevada, it's $3.05; and in Oregon, it's $3.10.