Oregon Now Has Nation's Second Highest Gas Prices

The nationwide average for a gallon of regular unleaded gas Monday was at $2.28, up 8 cents from a month ago.

Photo: Kevin Hays

(SALEM) - The price for a gallon of regular unleaded gas in Oregon has climbed to $2.60, up 18 cents from one month ago.

That is the second highest price in the nation.

Only Hawaii's average price is higher at $2.83 a gallon.

In Salem, the average price as of Monday is $2.58 a gallon, up 21 cents from one month ago.

The highest average price in the state is in the Medford-Ashland metro area, where the average price Monday was $2.66 a gallon, up 28 cents from a month ago.

In Portland-Vancouver the average price is at $2.57, and in Eugene-Springfield the average price is $2.62 a gallon.

Nationwide the lowest average price for gas can be found in Oklahoma at $2.13 a gallon.

"The abrupt price increases are blamed on a combination of factors," said AAA Oregon Public Affairs Director Elliott Eki.

"Since before the Thanksgiving holiday, crude oil has been trading at more than $60 per barrel; national oil and gasoline inventories have tightened; and, the previously lower pump prices resulted in greater consumer demand."

Oil prices also are being driven higher by the expectation that OPEC will agree to cut production even further at next week's meeting.

The cartel earlier this fall reduced oil output by more than a million barrels a day and energy analysts anticipate more cuts as oil ministers attempt to hold crude prices above the $60 mark.

At this time, it appears crude oil prices will remain above that level for the foreseeable future, propping up wholesale and retail fuel prices.

Mid-Valley Average Fuel Prices: (As of Monday, December 4th) Albany: $2.60 Corvallis: $2.58 Dallas: 2.59 Monmouth-Independence: $2.59 Lincoln City: $2.50 McMinnville: $2.55 Newberg: $2.55 Newport: $2.66 Salem-Keizer: $2.58 Silverton-Mt. Angel: $2.63 Stayton: $2.60 Wilsonville: $2.56 Woodburn: $2.58 (Source: AAA Fuel Price Finder)