Oregon Gas Prices Dip Slightly

According to AAA, the current average price in the Salem-area for a gallon of regular unleaded is $2.69.

Salem-News.com

(SALEM) - After several weeks of moving upward, average gasoline prices in Oregon have reversed -- at least for now.

In the past week, Oregon's average price for a gallon of regular dropped by a penny to $2.68.

That compares to the national average $2.30, which fell by more than two cents in the same time period.

The price of crude also declined abruptly.

While lingering in the low- to mid-$60 per barrel range for much of November and December, the price fell below the $60 mark last week, and today, the price is near $55 per barrel.

Analysts say the lower crude oil prices are due to unseasonably warm weather in the eastern United States and in much of Europe, holding down demand for energy to heat homes and businesses.

Strengthening oil inventories is slowing speculative interest in oil contracts as well.

With refinery problems corrected in the Puget Sound area, and consumer demand for fuel typically low at this time of year, gasoline inventories in Oregon should improve steadily.

In three weeks, however, OPEC intends to reduce daily oil output by 500-thousand barrels.

The impact of that move will be felt globally, and how it affects pump prices remains to be seen.

At $2.68, Oregon's average gasoline price is still 2nd highest in the nation.

Hawaii has the highest average price at $2.94.

Washington's statewide average price remained at $2.67, Idaho's dipped to $2.35, California's rose to $2.66, and Nevada's bumped up to $2.58.

Oklahoma has the lowest statewide average gasoline price at $2.10.

In the past week, the national average diesel price dropped to $2.65 per gallon.

Idaho's average diesel price dipped to $2.91, Washington's fell to $3.03, California's dropped to $3.05, Nevada's went down to $2.87 and Oregon's dropped three cents to $2.90.