Salem-News.com Gas Prices articles Page 5

Pump Prices Plunge to Lowest Level in Seven Months

Gas prices continue their free fall, with the national average dropping a hefty 32 cents in the past week to $3.16 and Oregon's average plunging 15 cents to $3.34.

(PORTLAND, Ore.) - Gas prices are dropping like a rock. The national average for regular unleaded plunges 32 cents this week to $3.16, while Oregon's average drops another 15 cents to $3.34. AAA Oregon Public Affairs Director Marie Dodds says the national average is at its lowest point since February 28th, while Oregon's is the lowest since the first week in March.

Dodds says crude oil is down significantly from the record high of $147 per barrel set July 11th, trading near $80 per barrel today.

"It's reasonable to expect further declines in pump prices. The last time oil was trading at $80 per barrel was in October of last year, and the national average for regular unleaded then was around $2.76 and Oregon's was about $2.86."

Falling Gas and Oil Prices Bring Some Relief

Gas prices continue to plummet, with the Oregon average dropping 9 cents this week and the national average losing 15 cents. Both averages are at their lowest level since mid-April.

(PORTLAND, Ore.) - "If there's a silver lining in all of the bad economic news, it may be that gas and oil prices are declining. The national average for regular unleaded plunges 15 cents this week to $3.48, while Oregon's average drops another 9 cents to $3.49. Both are at their lowest points since mid-April." AAA Oregon Public Affairs Director Marie Dodds says "AAA predicts pump prices will continue to drop with our national average falling to near $3.00 a gallon before Thanksgiving."

Gas Prices Decline but Crude Oil Rallies With Largest One-Day Gain Ever

What does all of this mean for prices at the pumps in the coming weeks?

(SALEM, Ore.) - Gas prices show another hefty drop this week, with the national average plummeting 13 cents, and the Oregon average for regular unleaded losing eight cents.

Oregonians are still enjoying prices below the national average, but the price of crude skyrocketed yesterday, posting its largest one-day gain ever. And many areas are still facing tight supplies as refineries slowly come back online in the wake of Hurricanes Gustav and Ike.

Oregon Average Drops Below $4 Per Gallon

The price of crude keeps falling despite Russia's military presence in Georgia. In fact, it's the first time in a decade that military action in an oil sensitive region hasn't resulted in an oil market rally.

(PORTLAND, Ore.) - Oregon's statewide average for regular unleaded is less than $4 per gallon for the first time since the last week of May. The statewide average falls seven cents this week to $3.99, and only one measured metro area in Oregon, Medford/Ashland, has an average above $4.

The national average declines for the 26th day in a row, also dropping seven cents this week to $3.80 a gallon." AAA Oregon Public Affairs Director Marie Dodds says, "Oregon's average is down 28 cents in the past month, while the national average has lost 30 cents. The national average should easily dip below $3.75 a gallon as soon as this week, and could drop another 15 cents per gallon by Labor Day."

AAA Says Gas Prices Decline to Lowest Level in 11 Weeks

Good news for consumers as they fill up their gas tanks. The national and Oregon averages continue to fall and prices haven't been this low since late May. The price of crude oil is also $27 lower than the record high of $147 set in July.

(PORTLAND, Ore.) - "It's costing us less to fill up our tanks. Gas prices continue to fall and haven't been this low since late May. The national average drops seven cents this week to $3.87 a gallon, while Oregon's average declines eight cents to $4.06."

AAA Oregon Public Affairs Director Marie Dodds says, "If the price of crude oil remains below $125 per barrel, we could see a national average around $3.75 by Labor Day. Larger declines will be in the works if oil prices plunge even lower than they are now."

Oil is trading today around $120 per barrel, down about $27 from the all-time high price of $147 per barrel set on July 11. The drop in energy prices is mostly due to shrinking demand for petroleum products in the U.S. and other countries as global economies have cooled.

New Bill Would Provide Relief from High Gas Prices

Bipartisan Legislation to Provide Transportation and Housing Options Endorsed by Leading National Environmental Group.

(WASHINGTON, D.C.) - A leading national environmental group today endorsed new bipartisan legislation in Congress that would offer Americans relief from high gas prices by providing expanded transportation and housing options.

Gas prices in the United States have tripled during the past seven years. As a result, Americans now spend an average of more than $2,000 a year on gas to commute to work. Transportation costs are now Americans' second largest average expense after housing.

Oregon PUC Predicts Substantial Increase in Winter Natural Gas Prices

Oregon’s supply of natural gas comes from Canada and the Rocky Mountain region.

(SALEM, Ore.) - If you use natural gas, brace yourself for an expected sharp rise in prices. That was the collective opinion shared today in a briefing before the Oregon Public Utility Commission by natural gas providers in Oregon.

The Commission was told that natural gas prices this coming heating season will likely be significantly higher than a year ago due to growing demand, tight supplies and international pressures as Oregon’s natural gas companies secure supplies for their customers for the next year and beyond.

National Gas Prices at Record Highs, Oregon Average Eases Slightly

The price of crude hit yet another record high late last week, but drops several dollars today. Our national average is holding steady at a record high near $4.11 per gallon.

(PORTLAND, Ore.) - Even the President is talking about high gas prices and possible solutions. The recent run-up in crude has yet to be reflected fully at the pumps. Why are retailers reluctant to pass the higher prices on to consumers? And what's the outlook for prices for the rest of the summer?

AAA reports that for the second day in a row, the national average for regular unleaded remains at a record high of nearly $4.11, gaining a tenth of a cent in the past week. Oregon's average dropped two cents this week to $4.27 and prices in many of Oregon's measured metro areas are ticking down slightly as well.

AAA Oregon Public Affairs Director Marie Dodds says, "Oregon and Washington are among 41 states, including the District of Columbia, with averages for regular unleaded at or above $4 per gallon, up from 39 states last week."

Oregon Average Surpasses $4 a Gallon, Remaining Above National Average

The national average for regular unleaded has set record highs on 26 of the past 27 days, but now seems to be stalling at just under $4 per gallon. Here in Oregon, we have crossed the $4 threshold, and, in fact, all of our measured areas are several cents above that mark.

(PORTLAND, Ore.) - Gas prices have traditionally peaked just before Memorial Day and then have gradually declined over the summer. This year is likely to be different.

"Monday's average was the same as Sunday's, which was the first time since May 7th that the price didn't go up overnight." Marie Dodds with AAA said.

Gas Prices in Parts of Oregon Pass Four Dollar Mark

Prices at the pumps continue to be much higher than they were a year ago. The national average was $3.21 last year, while Oregon's average was $3.37.

(PORTLAND, Ore.) - Gas has finally reached $4 a gallon in Oregon. Today's average for regular unleaded in Medford/Ashland climbed to $4.01. The statewide average and averages for the other major markets in Oregon are only pennies away.

There doesn't seem to be an end in sight to climbing gas and diesel prices, which continue to set new record highs almost daily.