Gas Pump Prices Highest of the Year

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The national and Oregon average price of a gallon of gas climbed to their highest prices of the year on Memorial Day.

“Today, both averages are fractions of a penny lower,” said AAA Oregon/Idaho Public Affairs Director Marie Dodds. “For the week, the national average for regular unleaded gains three cents to $2.74 while Oregon’s average adds a penny to $3.04.vDespite the rising gas prices over the past several weeks, consumers paid the lowest prices at the pump for the Memorial Day weekend since 2010.”

Pump prices have headed higher over the past several weeks due to an increase in the price of global crude and localized refinery issues, particularly in the Midwest and on the West Coast. Although West Coast states continue to post the nation’s highest state averages, the most dramatic weekly increases have been in the Midwest, largely attributed to production issues in that area. Drivers on the West Coast will likely deal with high prices in the coming weeks because of the residual impacts of reduced supply in this region.

California, Nevada, Hawaii, Alaska and Washington are the five most expensive markets for retail gasoline, with Oregon dropping to sixth most expensive after spending the last four weeks at fifth. A total of seven states, all in the western region, are posting averages above $3 per gallon. Drivers in South Carolina ($2.43) and Mississippi ($2.44) are paying the lowest prices at the pump, and their prices are discounted by more than $1.25 per gallon compared to California.