Falling Back: Will Darker Evenings Lead to Reduced Demand for Gas?

0
176

Pump prices are fairly stable this week, with the averages in 45 states, including Oregon, changing by three cents or less.

The national average has a small increase while the Oregon average has a slight decrease. For the week, the national average for regular gains two cents to $3.42 a gallon. The Oregon average slips a penny to $3.77.

The national average is at its highest price since September 2014. The Oregon average is a little lower than its year-to-date high of $3.80 reached on August 19.

The latest decision by OPEC and its oil-producing allies to maintain their planned gradual increase in crude oil output will not help lessen supply constraints, so any relief will most likely have to come from the demand side.

“The switch to standard time and the resulting earlier sunset may lead to lower demand for gasoline. Drivers may head straight home after work instead of shopping or running errands in darkness,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.

Oregon is one of 23 states and the District of Columbia where prices are less expensive now than a week ago. Florida (-3 cents) has the largest week-over-week decline. Michigan (+16 cents) has the largest weekly increase in the country. The average in Nebraska is flat.

California ($4.63) and Hawaii ($4.34) continue to have the most expensive gas prices in the country and are the only states in the nation with averages above $4 a gallon. All other states and the District of Columbia have averages above $3 a gallon.

The cheapest gas in the nation is in Oklahoma ($3.04) and Arkansas ($3.07) and. For the 44th week in a row, no state has an average below $2 a gallon.

Oregon is one 47 states and the District of Columbia with higher prices now than a month ago. The national average is 15 cents more and the Oregon average is 2-and-a-half cents more than a month ago. This is the third-smallest monthly gain in the country. Alabama (+33 cents) has the largest month-over-month increase. Idaho (-3 cents) has the largest monthly decrease in the country.

LEAVE A REPLY

Please enter your comment!
Please enter your name here