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Sep-20-2007 10:30printcomments

Oregon Gas Prices Up Slightly This Week

In the Salem-area, the average price for a gallon of regular unleaded rose by 1-cent to $2.81.

gas pump

(SALEM, Ore. ) - In the past week, the national average price for a gallon of regular gasoline fell by almost four cents to $2.79.

But Oregon's statewide average continued its upward trek, but by a mere one-tenth of a cent to $2.82. In coming weeks, motorists should see pump prices backing off.

Consumer demand is down, refineries are now distributing the less expensive winter grade fuel, and U.S. winter fuel standards broaden access to European supplies.

Last week, OPEC agreed to increase oil production by 500,000 barrels per day.

Whether that is enough to add further downward pressure to gasoline prices is uncertain, especially with tropical storms still raising hurricane concerns in the Gulf Coast region.

Once the hurricane season passes, fuel prices should move lower. Then the focus shifts to winter weather, which could drive up demand for heating oil.

Last week, most Midwesterners paid $3 and more for a gallon of regular.

Since then prices have fallen by as much 16-cents per gallon, suggesting that refinery production and distribution problems have been overcome.

At $2.82, Oregon's average gasoline price ranks 21st in the nation.

Hawaii has the highest statewide average price at $3.22; in the contiguous U.S., North Dakota has the highest at $3.06, and New Jersey's is lowest at $2.53.

California's average price rose to $2.93, Washington's is up to $2.90, Idaho's inched up to $2.79, and Nevada's went up to $2.81.

The national average diesel price went up to $2.998 per gallon.

In California, the diesel average price is $3.15 per gallon; in Washington it's $3.13, in Idaho it's $3.04, and in Nevada it's $3.02.

Oregon's average diesel price now stands at $3.01.

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Neal Feldman September 21, 2007 1:33 pm (Pacific time)

Yup... if the price of oil was the reason for the prior raisings the companies would not have been posting multi hundred billion dollar windfalls from their price gouging. They pushed the american buyers as far as they would go and past $3 a gallon there were screams for government controls, investigations, windfall profits taxes etc. So they backed down. I fully expect gas to go up to $4 a gallon before the next summer only to 'drop' back to around $3.40 or so a gallon... so all the car addicted sheep will breathe a sigh of relief that prices went down 60 cents ignoring that in reality they ended up UP 45 cents. Addicts can be stupid. Just like the idiots who refuse to support mass transit even if they drive. It STILL saves them money on their taxes, it STILL saves them increased traffic that otherwise would exist, but they just cannot see past their own steering wheel. Morons. Ah well...

Leonardo September 20, 2007 6:19 pm (Pacific time)

One has to wonder with the price of oil being an all time high of $83/barrel why the price at the pump isn't as high as it has been earlier this year. Answer: we have an election coming up! Gosh, isn't capitalism wonderful?!

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