Gas Prices Highest In Four Years

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The national and Oregon gas price averages are at their highest levels since the fall of 2014. For the week, the national average for regular rises four cents to $2.81 a gallon, its highest price since October 2014. The Oregon average adds three cents to $3.20, the highest price since November 2014.

“AAA projects pump prices will climb another five to 15 cents through Memorial Day, then stabilize for the summer; however, prices could spike again due to robust demand and/or world events,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “AAA does not expect the national average to top $3 a gallon this year, barring unforeseen events.”

The week-over-week increases in the price of unleaded gasoline can be largely attributed to gas stations continuing to switchover to the more expensive summer blend of gasoline, which helps reduce excessive evaporation when outside temperatures rise. Gas stations around the country must begin selling summer blend gasoline by June 1 to comply with federal mandates.

Oregon is one of 48 states and the District of Columbia reporting week-over-week increases. The largest jumps are in Missouri (+9 cents) and Delaware (+7 cents). Oregon has one of the smallest weekly increases of 3 cents, which is the 38th largest in the country. The only two states reporting weekly decreases are Indiana (-1 cent) and Florida (down fractions of a cent).

The West Coast still has the most expensive gas prices in the nation with six of the top ten states in this region. This week California bumps Hawaii out of the top spot into second, followed by Washington, Alaska, Nevada and Oregon. Oregon is sixth most expensive for the third week in a row. This week nine states have averages at or above $3 a gallon, up from eight last week.

For the week, the national average gains three cents to $3.07 a gallon. Oregon’s average adds two cents to $3.31. A year ago the national average for diesel was $2.53 and the Oregon average was $2.70.

Source: AAA


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