Gas prices have eased off of record highs in the last few days, but don't expect this little bit of relief to last.
(SALEM, Ore.) - The statewide average for regular unleaded in Oregon increases almost a cent this week to $3.67, while the national average is up just three-tenths of a cent to $3.61.
The main reason gas prices didn't increase as fast in the past week is that the price of crude dropped to around $110 per barrel last week. This week, however, crude prices are back in record territory, with a barrel costing about $122 today.
"The slight drop we've seen in gas prices isn't expected to last as crude oil surges to a new record high," said AAA Oregon Public Affairs Director Marie Dodds. That means we'll probably see prices spike again at the pumps in the coming days."
The price of crude skyrocketed as a result of supply threats overseas and a weaker U.S. dollar. In Nigeria, rebels attacked oil wells and pipelines, and in Iraq, Turkish forces have again been involved in cross-border raids against insurgents. AAA is still predicting a national average near $3.75 around Memorial Day, which means many places, especially here on the west coast, will see prices at or above $4 per gallon.
Prices at the pumps continue to be much higher than they were a year ago. The national average was $3.04 last year, while Oregon's average was $3.38.
Portland’s prices are the cheapest in the state at $3.647 for a gallon of regular. Salem drivers are paying slightly more at $3.626. A gallon of regular in Eugene/Springfield is going for $3.704, and motorists in the Medford/Ashland area are paying $3.744 a gallon. Self serve regular in Vancouver, Washington is selling for $3.721.
Oregon's gas prices are eleventh highest in the nation, down from tenth highest last week. California again has the most expensive gas in the country at $3.92 a gallon, followed by Alaska at $3.91, Hawaii at $3.85, Connecticut at $3.82 and New York at $3.80. Washington is the seventh-highest again this week at $3.73. Wyoming has the least expensive gas in the country again this week at $3.44 per gallon.
The Oregon and national averages for diesel have also backed away slightly from record highs. The national average is holding steady at $4.24, down slightly from the record of $4.251 set on May 1. Oregon's average drops a cent to $4.35, down from the record high of $4.365 set on May 1. New York has the highest statewide average price for diesel again this week at $4.59, followed by Connecticut at $4.51, Hawaii at $4.50, California at $4.48, and Washington at $4.46. Oregon's diesel prices are the 12th most expensive again this week. A year ago the national average for diesel was $2.91 and Oregon's average was $2.96.
Source: Oregon AAA
Slight Relief at Pumps Probably Won't Last as Crude Sets RecordSalem-News.com