Oregon Gas Prices Fall While Nationwide Prices Rise

In the past week, the average price for a gallon of regular unleaded in the Salem-area fell 5-cents to $ 2.43.

Salem-News.com

(SALEM) - During the past week, the national average price for a gallon of regular gasoline rose three cents to $2.18.

In contrast, Oregon's statewide average dropped a nickel per gallon to $2.42 and Washington's went down almost six cents.

In the past month, the Oregon statewide average price has backed off by more than a quarter a gallon.

Of the four measured Oregon metropolitan areas, average prices in Eugene-Springfield went down by almost 33-cents in the past month.

The rising national average price can be attributed to a number of factors: severe winter weather in the upper Midwest and New England states is driving up demand for heating oil, crude oil is currently trading at about $58 per barrel, and preparations are underway for the annual transition to summer grade fuels.

In addition, because of moderate weather in January, consumer demand for gasoline was up almost 3.5% over a year ago.

And, OPEC announced, effective February 1st, it would reduce daily oil production by 500-thousand barrels per day, in addition to the 1.2 million barrel per day cut enacted in October.

At $2.42, Oregon's average gasoline price is 5th highest in the nation.

Hawaii has the highest average price at $2.87, followed by California at $2.58, and Washington and Nevada at $2.46. Idaho's average price is down to $2.21.

Missouri has the lowest statewide average price at $1.99.

During the past week, the national average diesel price nudged up to $2.54 per gallon.

Idaho's average diesel price fell to $2.69, Washington's dropped four cents to $2.74, California's went up seven cents to $2.98, Nevada's rose a penny to $2.77 and Oregon's went down a penny per gallon to $2.66.