Oregon, Nationwide Gas Prices Continue to Tumble

The average price for a gallon of regular unleaded in the Salem-area has dropped 8-cents in the past week to $2.55.

Salem-News.com

(SALEM) - Gasoline prices across the nation continue to fall; in the past week, the national average price for a gallon of regular dropped another seven cents to $2.16.

Oregon's statewide average price went down almost eight cents per gallon to $2.56.

In Salem, the average price fell 8-cents to $2.55. In Portland-Vancouver the average price fell 7-cents to 2.54, and in Medford-Ashalnd the price also dropped 7-cents to 2.54.

Eugene-Springfield saw the weeks biggest price drop. The average price fell 13-cents to 2.53 a gallon.

"In the past month, the national average price has gone down more than 18-cents per gallon compared to about 13-cents per gallon in Oregon during the same time period," said AAA Oregon Public Affairs Director Elliott Eki.

"There are now nine states with statewide average prices below the two dollar barrier and about a half-dozen more states likely will join that group soon. Obviously, West Coast prices are holding up the national average," Eki added.

While the current national average price is 17-cents per gallon lower than it was one year ago, Oregon's statewide average is still almost 33-cents per gallon higher.

Analysts with the Oil Price Information Service forecast that the national average could drop even lower, as much as a dime, by the first week of February. How that translates to West Coast pricing remains to be seen.

A week ago, the price of crude oil dipped below the $50 per barrel mark, but, the recent cold weather helped it rebound to its current level of just under $54 per barrel.

At $2.56, Oregon's average gasoline price is virtually tied with California's as 3rd highest in the nation.

Hawaii has the highest average price at $2.90, followed by Washington at $2.59.

Idaho's average price is down to $2.27, and Nevada's fell to $2.52.

Oklahoma has the lowest statewide average price at $1.93.

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

Idaho's average diesel price is $2.78, Washington's is $2.87, California's is $2.90, Nevada's is $2.77 and Oregon's dropped seven cents to $2.76.