National average gas prices continue to dip during the summer travel season, but if supply drawdowns continue, it could lead to a price bump at the pump in coming weeks, says AAA.
The national average is $2.25, one cent cheaper than a week ago and five cents less than a month ago,” said Matthew Conde, public affairs director for AAA Idaho.
“Oregon prices have hovered around $2.67 for the past three weeks,” said Conde. “Oregon drivers are paying the same as they did last week, and about a penny and a half less than a month ago.” Gas prices in Hermiston are right around the state average.
The West Coast region posted a build in gasoline stocks for the first time in four weeks, adding 300,000 barrels to the total regional supply of 28.2 million bbl. The increase puts 2017 totals in line with supply levels from a year ago, even as refineries continue to produce below typical summer levels. Additional fuel supply will likely be generated when PBF Energy’s Torrance, CA and Valero’s Benicia, CA refineries conclude planned maintenance later this week.
Meanwhile, national gasoline stocks dipped by more than 1.6 million bbl on the week, bringing the current U.S. supply to 235.7 million bbl – approximately 4 million bbl less than this time last year.
“If seasonal demand remains steady, reductions in U.S. fuel inventory will eventually apply upward pressure on gas prices in many parts of the country,” Conde said. “AAA and other organizations will continue to monitor market conditions in the coming weeks. In the meantime, now is a good time to hit the road.”
As far as I’m concerned Hermiston and Oregon gas prices are almost a dollar more than places we gassed up back east. some stations were $1.71 per gallon. I know our state taxes are very high and from what I read they will be even higher. sure glad the people in the state house think we can afford higher taxes to pay more welfare. this is hard on fixed income seniors who may get a meager pay raise and that raise goes mainly to health insurance increases
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