Gas prices continue to move lower as millions of Americans get ready to travel for Labor Day.
Relatively stable oil costs, mild demand for gas, and an increase in production are all putting downward pressure on pump prices. The national average is at its lowest price since March and the Oregon average is at its lowest price since February. However, tensions in the Middle East and hurricane season could always send oil prices and pump prices higher.
For the week, the national average for regular falls five cents to $3.35 a gallon. The Oregon average also loses five cents to $3.80 a gallon. Year-over year, Oregon has the largest drop in the nation, down 94 cents compared to this date in 2023.
This year’s record-breaking summer travel season will wrap up with millions of Americans taking a final summer trip over the Labor Day weekend. AAA booking data for flights, hotels, rental cars and cruises shows Labor Day travel is on the rise compared to last year. Domestic travel is up 9% over 2023. Find all the details, graphics, best and worst times to travel, top destinations, and gas price info in the AAA Labor Day news release.
This week, 31 Oregon counties have averages below $4 per gallon, compared to 28 counties a week ago:
- Baker $3.71
- Benton $3.38
- Clackamas $3.86
- Columbia $3.98
- Coos $3.95
- Crook $3.84
- Deschutes $3.67
- Douglas $3.68
- Gilliam $3.70
- Grant $3.90
- Harney $3.78
- Hood River $3.62
- Jackson $3.80
- Jefferson $3.57
- Josephine $3.85
- Klamath $3.69
- Lake $3.83
- Lane $3.63
- Lincoln $3.44
- Linn $3.47
- Malheur $3.80
- Marion $3.74
- Morrow $3.63
- Multnomah $3
- Polk $3.66
- Sherman $3.77
- Tillamook $3.85
- Umatilla $3.65
- Union $3.89
- Yamhill $3.85
- Wasco $3.74
The Oregon average began 2024 at $3.79 a gallon compared to $3.80 today. Its lowest price so far this year is $3.58 on February 14 and the highest is nearly $4.51 on May 1. The national average started the year at $3.11 and is at $3.35 today. Its lowest price so far this year is just under $3.07 on January 15 and the highest is just under $3.68 on April 19.
Oregon is one of 45 states and the District of Columbia with lower prices now than a week ago. Ohio (-11 cents) has the largest week-over-week drop in the nation. Indiana (+3 cents) has the largest weekly increase. The average in Idaho is flat.
Hawaii ($4.66) has the most expensive gas in the nation for the sixth week in a row. California ($4.61) is second, and Washington ($4.18) is third. These are the three states with averages at or above $4 a gallon, same as a week ago. This week 40 states and the District of Columbia have averages in the $3-range. There are seven states with an average in the $2 range this week.
The cheapest gas in the nation is in Oklahoma ($2.89) and Mississippi ($2.89). No state has had an average below $2 a gallon since January 7, 2021, when Mississippi and Texas were below that threshold.
The difference between the most expensive and least expensive states is $1.77 this week, compared to $1.72 a week ago.
Oregon is one of 46 states and the District of Columbia with lower prices now than a month ago. The national average is 16 cents less and the Oregon average is 14 cents less than a month ago. This is the 21st-largest month-over-month decline in the nation. Michigan (-40 cents) has the largest month-over-month drop in the nation. Colorado (+7 cents) has the largest monthly increase in the nation.
All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 47 cents less and the Oregon average is 94 cents less than a year ago. This is the largest year-over-year drop in the nation.
