Growing gasoline stocks in the U.S. are helping to keep gas prices mostly stable in Oregon and across the country.
Pump prices either held steady or changed by less than three cents in 44 states including Oregon. For the week, the national average for regular dips a penny to $3.07 a gallon. The Oregon average ticks up two cents to $3.49.
Demand for gasoline is also trending higher. Demand continues to be up significantly from a year ago when many states had travel restrictions and Americans were staying home due to COVID-19.
“Despite growing demand, most drivers aren’t seeing skyrocketing pump prices due to rising stock levels, which have shot up over the last four weeks,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.
Oregon is one of 24 states where prices are higher week-over-week. Most increases are small — only two states have averages that have climbed more than a nickel. Colorado (+7 cents) has the largest weekly increase in the country. Michigan (-5 cents) has the largest weekly decline.
California ($4.24) and Hawaii ($3.98) continue to have the most expensive gas prices in the country. California is the only state with an average above $4 a gallon, and 20 states and the District of Columbia are above $3, up from 19 states and D.C. a week ago. Oregon has the fifth-most expensive gas in the nation.
The cheapest gas in the nation is in Louisiana ($2.72) and Mississippi ($2.72). For the 24th week in a row, no state has an average below $2 a gallon.
Oregon is one of 34 states and the District of Columbia with higher prices now than a month ago. The national average is three cents more and the Oregon average is eight cents more than a month ago. This is the eighth-largest month-over-month increase in the nation. Colorado (+22 cents) has the largest monthly increase in the country. South Carolina (-10 cents) has the largest monthly decline.
All 50 states and the District of Columbia have higher prices now than a year ago, and six states have a current average that’s a dollar or more higher than a year ago. The national average is 94 cents more and the Oregon average is 91 cents more than a year ago. This is the 28th-largest yearly increase in the nation. California (+$1.19) has the biggest yearly increase. Maryland (+80 cents) has the smallest year-over-year increase. Compared to a year ago, gas prices are very expensive as last spring was prime quarantine time across the country.
