Pump prices continue to climb and drivers are paying the highest prices for gasoline for this time of year in three years. For the week, the national average jumps six cents to $2.35 a gallon, while Oregon’s average climbs a nickel to $2.49, said AAA Oregon/Idaho Public Affairs Director Marie Dodds.
“Retail fuel prices have been climbing, largely due to market reactions to last fall’s OPEC deal to cut oil production,” Dodds said. “As we move into 2017, retail prices will continue to react to the ability of OPEC and non-OPEC countries to follow through with the announced cuts.”
Pump prices increased week-over-week in 49 states and the District of Columbia. The only state to see prices decline is Ohio with a drop of six cents on the week. AAA says retail averages are likely to increase leading up to the summer driving season as seasonal refinery maintenance gets underway this spring.
OPEC brokered an agreement with member nations and non-OPEC producers to limit oil production by 1.8 million barrels per day beginning on January 1, 2017.
Gas prices on the West Coast continue to be some of the highest in the country, with almost every state in the region landing on the top ten list of most expensive markets. Hawaii is the only state with an average above $3 a gallon. California, Alaska, Washington and Pennsylvania round out the top five most expensive states. Oregon is 10th most expensive after two weeks at eighth.
