Gas prices are ticking up in the early days of 2025.
The major driver is a rally in crude oil prices. While the national average for regular gas came close to $3 a gallon in late 2024, it did not fall below that threshold. The Oregon average has been fairly steady for the last month, changing only by a few pennies.
For the week, the national average for regular adds three cents to $3.07 a gallon. The Oregon average edges up one cent to $3.47 a gallon.
“Crude oil prices have soared to their highest prices in nearly three months as parts of the U.S. are being blasted by winter weather, boosting energy prices, and also because of optimism that China’s economy would improve due to fiscal stimulus programs,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “The higher crude oil prices are putting upward pressure on pump prices. It’s likely we’ll see pump prices rise in fits and starts over the next few weeks, before the normal seasonal increases that come a bit later in the year. For now, though, drivers continue to enjoy gas prices that are near their seasonal lows.”
The average price of regular gas in Oregon in 2024 was $3.88, compared to $4.23 in 2023. The Oregon average began 2024 at $3.79 a gallon and ended the year at $3.45. The lowest price in 2024 was just under $3.45 a gallon on Dec. 30 and the highest price of the year was nearly $4.51 on May 1.
The average price of gas nationwide in 2024 was $3.33, compared to $3.53 in 2023. The national average started 2024 at $3.11 and ended the year at $3.04. The lowest price in 2024 was $3.01 on Dec. 10, and the highest was just under $3.68 on April 19.
Oregon is one of 32 states with higher prices now than a week ago. Delaware (+26 cents) has the largest week-over-week increase in the nation. Colorado (-2 cents) has the biggest week-over-week decrease. The average in Indiana is flat.
Hawaii ($4.54) has the most expensive gas in the nation for the 10th week in a row. California ($4.38) is second. These are the only two states in the country with averages still at or above $4 a gallon. This week 20 states and the District of Columbia have averages in the $3-range. There are 28 states with an average in the $2 range this week.
The cheapest gas in the nation is in Oklahoma ($2.56) and Mississippi ($2.62). No state has had an average below $2 a gallon since January 7, 2021, when Mississippi and Texas were below that threshold. At the time, the COVID-19 pandemic drove significant declines in crude oil and gasoline demand in the U.S. and around the world.
The difference between the most expensive and least expensive states is $1.98 this week, compared to $1.97 a week ago.
Oregon is one of 18 states with lower prices now than a month ago. The national average is five cents more and the Oregon average is four cents less than a month ago. Ohio (+23 cents) has the largest month-over-month increase. Alaska (-14 cents) has the largest month-over-month drop in the nation. The average in Mississippi is flat.
Oregon is one of 31 states with lower prices now than a year ago. The national average is one cent less and the Oregon average is 28 cents less than a year ago. This is the fourth-largest year-over-year drop in the nation. Alaska (-32 cents) has the largest yearly drop. Ohio (+44 cents) has the largest year-over-year increase.
