Oregon Average Gasoline Price Still Falling

National Average Price Nudges Upward

Image Courtesy: www.kmozart.com

(Salem) - The average price for a gallon of regular gasoline in the Portland metropolitan area fell more the 4-cents in the past week, dropping below Salem`s average price, and is within pennies of the price paid one year ago. Across the river, the Vancouver average price declined by more than 7-cents a gallon to $2.06. The Oregon statewide average went down 3-cents a gallon, but the national average price crept upward by less than half a cent.

"While local prices continue to fall, consumers should expect prices to rise soon. As the weather improves and we get into the spring and summer driving seasons, demand will drive prices upward. Already, we're seeing prices moving upward in most other areas of the United States. Crude oil continues to sell at more than $60 per barrel and we'll soon convert to the more expensive summer fuel blend, which will push pump prices higher."

The strengthening U.S. fuel inventories offers some optimism that the national average gasoline price might not reach the $2.50 level within the next few months as some analysts expected. Current Oregon $2.143 Salem $2.043 Portland $2.023 Eugene $2.146 Medford $2.224 Vancouver $2.056

At $2.14, Oregon's average gasoline price is 8th lowest in the nation. Hawaii has the highest statewide average price at $2.68. California's average price fell to $2.47; Nevada's dropped to $2.43; Washington's dipped to $2.24; and Idaho's gained a penny to $2.29. South Carolina has the lowest average price at $2.07. The national average diesel price held steady at $2.55 per gallon. In Washington, the diesel average rose a nickel to $2.68. In California, it went up to $2.83; in Nevada, it held at $2.68; in Idaho, it's still $2.63, and in Oregon, it went up 5 cents to $2.52.

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