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Jul-31-2007 13:48TweetFollow @OregonNews
Gas Prices in Oregon Continue to FallSalem-News.com
In Salem, the average price fell 5-cents a gallon this past week to $2.85.
(PORTLAND, Ore. ) - Improved output at Midwest refineries during the past week, caused the national average price for a gallon of regular gasoline to plummet another eight cents to $2.88.
In Oregon, the decline was a bit more moderate at about four cents a gallon to $2.89, matching the average price at the end of March.
In the Portland metropolitan area, some retailers already are selling below $2.70.
Only 13 states currently have average prices above three dollars per gallon.
Consumers are enjoying the steadily declining pump prices even as the price of crude oil approaches record levels.
On Tuesday, oil traded at $77 per barrel, the highest price since August 2006 when Israel invaded Lebanon, and near the all-time high of $78 per barrel.
"It's possible the cost for gasoline will back-off by as much as another five-to-ten cents per gallon by the end of August," said AAA Oregon Public Affairs Director Elliott Eki, "But, any predictions are subject to a lot of unknowns. Prices should drop as refineries sell off their summer blends in preparation for the switch to winter grade fuels, but in the process, as we saw this summer, there could be disruptions in production and distribution, which drive costs upward. And, at some point, we'll be feeling the effects of the high price of oil."
At $2.89, Oregon's average gasoline price now ranks 25th lowest in the nation.
Hawaii has the highest statewide average price at $3.28; in the contiguous U.S., Connecticut is highest at $3.12, and South Carolina is lowest at $2.68.
California's statewide average price dropped five cents to $3.07, and Washington's is down to $2.97.
Idaho's average price fell to $3, and Nevada's is down to $2.96.
The national average diesel price held steady at $2.95 per gallon.
In California, diesel averages $3.24 per gallon; in Washington it's up to $3.15, in Idaho it's $3.06, and in Nevada it's $3.11.
Oregon's average diesel price moved up a nickel to $3.03.
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