U.S. Average Gas Prices Continues to Plummet; Oregon Average Price Inching Downward

National average is down another 12-cents in the past week, while Oregon prices only drop by a nickel. The national average is now $2.61; Oregon's avg. is $2.92, tied with Washington's average price for 7th highest in nation.

Photo courtesy: plan59.com

(SALEM) - In the past week, the national average price for a gallon of regular gasoline dropped another 12-cents to $2.61; in Oregon, the price fell by a nickel a gallon to $2.92, 30-cents higher than the national average.

Salem drivers are paying an average of $2.89 while Portland residents are seeing a better average price of $2.87 for a gallon of regular.

Eugene/Springfield area regular is selling for an average of $2.92 and $2.93 is the average price for a gallon of regular in the Ashland/Medford area. Vancouver residents are paying an average of $2.87

While Salem’s average is higher than our neighbors to the north, it is not to say that there aren’t some comparatively good deals also; with a gallon of regular going for $2.65 at the Arco on South Commercial near Mission, and $2.71 at Safeway on South Commercial.

Since the national average price peaked at $3.036 per gallon on August 7th, the price has gone down 42-cents. Oregon's average price peaked about a week later at slightly more than $3.04 per gallon, but since then has declined by less than 13 cents. For the first time since the end of April, the Medford-Ashland average price is below $3 per gallon at $2.94.

"The two primary factors behind the lower pump prices are the declining price of crude oil, currently trading in the $65 per barrel range, about $10 less than July prices, and the end of the summer driving season," said AAA Oregon Public Affairs Director Elliott Eki. "In addition, the hurricane season, to date, has not lived up to the dire forecasts issued earlier this year, and there has been no serious disruption in the flow of oil. We expect pump prices will continue to drop, but just how far remains to be seen."

Consumers should be aware that some of the issues leading to high fuel prices remain unresolved, which could set the stage for a rebound in energy prices next year. Those issues include insufficient domestic refining capacity, political instability in some of the world's largest oil producing nations, and rapidly increasing global demands for oil.

At $2.92, Oregon and Washington's average gasoline price is 7th highest in the nation. Hawaii has the highest statewide average price at $3.28. California and Nevada’s is down to $2.96, and Idaho’s dipped to $2.97. Ohio has the lowest statewide average price at $2.31. The national average price for a gallon of diesel currently stands at $2.97. Idaho's statewide average diesel price, highest in the contiguous U.S., is $3.50. Washington's is $3.38, California's is $3.23, Nevada's is $3.26, and Oregon's fell another 6-cents to $3.29.