Gas Prices May Have Leveled Out For The Summer


gas pump pdx

gas pump pdx

Gas prices are fairly steady in all 50 states with increases or decreases of a nickel or less. For the week, the national average remains at $2.18 a gallon. The Oregon average adds two cents to $2.61.

U.S. gasoline demand shows a slight drop of 47,000 b/d while gasoline stocks increased by 1 million bbl. “This comes as many states including Oregon report increases in COVID-19 cases, which could be causing Americans to reconsider some outings,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. Visit AAA.com/covidmap for an interactive map with the latest travel restrictions and policies for North America.

Drivers who hit the road for Independence Day found pump prices were about 60 cents a gallon cheaper than last year. The national average was the cheapest for the holiday since 2004 and the Oregon average was at its cheapest since 2016.

Beyond typical fluctuation at the pump, on the week a few states saw prices jump due to fuel tax increases on July 1. This includes California, Illinois, Indiana, Iowa, Nebraska, South Carolina and Maryland.

Here in Oregon, traffic volumes are steadily increasing. The most recent traffic volume report (July 2, 2020) from the Oregon Department of Transportation shows the most recent full week saw an average reduction of 13 percent in weekday traffic volumes and a 20 percent reduction in weekend volumes overall compared to the previous year. For the month of April, traffic began with 43 percent lower weekday volumes and 55 percent lower weekend volumes than 2019.

For the week, the national average remains at $2.44 a gallon. Oregon’s average holds steady at $2.61. A year ago the national average for diesel was just under $3.01 and the Oregon average was $3.20.

Source: AAA

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