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Nov-20-2007 14:51printcomments

Gas Prices Steady in Time for Thanksgiving

The price of gas appears to be leveling off this week, just in time for the Thanksgiving holiday.

filling up gas tank
Salem-News.com

(SALEM, Ore.) - "Gas prices appear to be leveling out as we approach Thanksgiving, after a 28-cent surge in the past eight weeks."

AAA Oregon Public Affairs Director Marie Dodds says, "The national average is down one-and-1/2-cents in the past week to $3.09 per gallon for regular unleaded, and Oregon's statewide average drops 1/2 cent to $3.155 this week.

The price of crude has stalled on its way to $100 per barrel and is currently around $98, and there are hints from OPEC that the cartel may agree at its meeting next month to increase production.

Despite the small decrease, nationally we're still paying 86 cents more than a year ago, and in Oregon 61 cents more. The national average is currently just one cent below the inflation-adjusted all-time high set in 1981. At that time, the price of gas peaked at $1.35, which is equivalent to $3.10 in today's dollars.

Gas prices this week have decreased slightly in all four of Oregon's measured metropolitan areas, and in Vancouver, WA. In Portland and Salem, prices are down 1/2 cent. In Medford/Ashland, prices are down one cent, and in Salem and Vancouver, prices are down two cents.

In Salem, drivers are paying $3.115 for regular, with Portland residents paying slightly more, $3.122. Motorists in the Eugene/Springfield area are paying $3.183 and Medford/Ashland is seeing an average price of $3.226. In Vancouver, Washington, drivers are paying $3.221for self serve regular.

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Oregon's gas prices are now 12th highest in the nation, down from 11th-highest last week. California again has the most expensive gas in the country at $3.425, followed by Hawaii at $3.383, New York at $3.226 and Washington at $3.254. New Jersey continues to have the least expensive gas in the country at $2.92 per gallon.

The price of diesel remains high. In the past week, Oregon's average diesel price has declined 1/2 cent to $3.59 per gallon, compared to $2.89 a year ago. The national average for diesel is currently $3.45, compared with $2.64 last year. Hawaii has the highest statewide average price for diesel at $3.85. In Washington, diesel averages $3.73; California, $3.70; Idaho, $3.69, and Nevada, $3.55.




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