Oregon Average Gasoline Price Still Declining

Heavy July 4th travel could drive up demand and pump prices. Oregon average prices are still falling, but crude oil is closing above $70 per barrel again.

Photo courtesy: plan59.com

(SALEM) - After one week below the $70 per barrel mark, the price of crude oil is again above that threshold and although the national average gasoline price is down a penny from one week ago, it moved slightly upward over the weekend.

Oregon's statewide average price for a gallon of regular in the same time period went down another 4-cents to $2.98. In three of the four measured metropolitan areas in the state, the decline was more than a nickel a gallon.

Salem`s average price of $293.1 for regular gas is the cheapest in the state; Portland is close with an average price of $2.93.8, with Eugene prices ringing in at $297.8 a gallon for gas. Medford area drivers are still paying over $3.00 a gallon with an average price of $3.01.5.

"The heaviest traveled holiday of the year, the 4th of July, is right around the corner," said AAA Oregon Public Affairs Director Elliott Eki. "This year, many families likely will take a 4-day weekend, giving them more time to travel. That certainly will impact overall fuel demand and, quite possibly, current pump prices."

It's expected that a record number of Americans will travel during the 4th of July holiday, reflecting more than a one-percent increase over last year, despite the higher prices for fuel and lodging. Currently, the national average price for regular gasoline is 65-cents higher than a year ago; in Oregon, it's 67-cents higher.

Thursday, June 29th, marks the 50th anniversary of the national Interstate Highway system, created when President Dwight D. Eisenhower signed the Federal Aid Highway Act. Back then, 1956, the national average price for a gallon of regular gasoline was 22-cents.

Nationwide, the average gasoline price still exceeds $3 per gallon in only 5 states and the District of Columbia. At $2.98, Oregon`s average gasoline price is 9th highest in the nation. Hawaii has the highest statewide average price at $3.38. California`s fell to $3.17; Nevada`s is down to $3.00; Washington`s is $3.05, and Idaho`s remained at $2.90. South Carolina has the lowest statewide average price at $2.63. The national average diesel price fell to $2.94 per gallon. In California, diesel averages $3.27 per gallon; in Washington, it`s $3.06; in Idaho, it's $3.09; in Nevada, it's $3.07; and, in Oregon, it's down another 4 cents to $3.04.

AAA's Elliot Eki says anyone who plans to travel this 4th of July should get reservations as soon as possible.