Average Gasoline Prices Continue to Fall

Oregon prices bumped up a tad overnight, but should settle. Holiday auto travel is projected to be slightly less than a year ago, so there's no extreme increase anticipated in fuel demand.

Salem-News.com

(PORTLAND, Ore.) - With Labor Day only a week away, motorists will find continuing relief at the fuel pump. In the past week, the national average price for a gallon of regular gasoline lost another three and a half cents to $2.75.

In Oregon, the average price fell more than a penny to $2.74. These average prices are the lowest they've been since early April. Compared to last year, the current national average price is about a dime per gallon lower, and Oregon's is 27 cents lower.

Salem's cost of $2.704 falls slightly behind Portland where drivers are paying $2.679. Eugene/Springfield motorists are paying an average of $2.725 for a gallon of regular and residents in the Medford/Ashland are paying $2.742. Vancouver, Washington drivers are paying $2.771 a gallon for self serve regular.

"We saw an overnight increase in the statewide average price of just under a penny a gallon," said AAA Public Affairs Director Elliott Eki. "But, I don't think this signals any major spike in holiday fuel prices. With refineries selling off summer stock and no extreme increase in holiday demand anticipated, there is still downward pricing pressure."

AAA's annual Labor Day survey indicates overall travel will be only slightly higher than a year ago. In fact, auto travel volume is expected to be down slightly. The poll, conducted by the Travel Industry Association of America, suggests that many families will not hit the road for the last holiday of the summer because some schools already are in session.

At $2.74, Oregon's average gasoline price ranks 30th in the nation. Hawaii has the highest statewide average price at $3.21; in the contiguous U.S., North Dakota has the highest at $3.05, and South Carolina's is lowest at $2.53.

California's and Idaho's average price dropped to $2.81, Washington's remained steady at $2.82, and Nevada's dipped to $2.77. Alaska, Hawaii and North Dakota are the only states with average gasoline prices above $3 per gallon.

The national average diesel price stands at $2.92 per gallon. In California, diesel averages $3.12 per gallon; in Washington it's down to $3.10, in Idaho it's $3.04, and in Nevada it's $2.99. Oregon's average diesel price dropped three cents to $2.98