Oregon Gas Prices Decrease Slightly

Some encouraging news at the pumps as the price of gas inches down this week.

Salem-News.com

(PORTLAND,Ore.) - "Gas prices are creeping down this week." AAA Oregon Public Affairs Director Marie Dodds says, "The national average is down about four cents to $3.05, while Oregon's statewide average is also down about four cents to $3.11 per gallon.

Prices have stabilized amid speculation that OPEC will agree at tomorrow’s meeting to raise production. The price of crude has fallen to around $88 per barrel after being close to $100 per barrel last month."

Portland drivers are paying $3.076 for regular, Salem motorists are paying a little more; $3.084. The average price for a gallon of regular gas in the Eugene/Springfield area is $3.116. Medford/Ashland residents are seeing an average of $3.196. Self serve regular is averaging $3.201 in Vancouver, Washington.

Nationally we're paying 76 cents more per gallon at the pumps than a year ago, and in Oregon 51 cents more. In addition to the price of crude oil, another important factor affecting oil prices is the sub-prime mortgage situation, and whether it will further erode investor and consumer confidence.

The drop in the gasoline price is mainly due to the sharp drop in the oil price and the fact that gasoline demand seems to be flattening out this holiday season.

Gas prices this week are down in all four of Oregon's measured metropolitan areas, and in Vancouver, WA. In Vancouver and Medford/Ashland, prices are down three cents. In Salem, prices are down three cents. In Portland, prices are down four cents. And in Eugene/Springfield, prices are down five cents this week.

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Oregon's gas prices are now 15th highest in the nation, down from 11th-highest last week. Hawaii now has the most expensive gas in the country at $3.435, followed by California at $3.379, New York at $3.287, Connecticut at $3.240 and Alaska at $3.232. Missouri has the least expensive gas in the country at $2.844 per gallon.

The price of diesel remains high. In the past week, Oregon's average diesel price has declined about 1/2 cent to $3.543 per gallon, compared to $2.958 a year ago. The national average for diesel is currently $3.474 compared with $2.684 last year. Hawaii has the highest statewide average price for diesel at $3.866. In North Dakota, diesel averages $3.791; Montana, $3.761; New York, $3.709, and Washington, $3.675.

Source: Oregon AAA