The unexpected announcement from OPEC+ that it would cut oil production starting in May has helped push gas prices higher.
Other factors behind climbing pump prices include an increase in demand for gas in the U.S. and a drop in gasoline stocks. For the week, the national average for regular unleaded jumps a dime to $3.61 a gallon. The Oregon average gains six cents to $3.99.
Oil markets have had more than a week to digest the news from OPEC+. The announcement sent crude oil prices surging above $80 a barrel, although prices have struggled to stay above that mark,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Still, the cost of oil accounts for more than 50% of what we pay at the pump, so drivers may not catch a break at the pump any time soon.”
Oregon is one of 47 states and the District of Columbia with higher prices now than a week ago. Ohio (+24 cents) has the largest weekly jump. Utah (-3 cents) has the largest week-over-week decline. The average in Idaho is flat.
California ($4.89) has the most expensive gas in the nation for the sixth week in a row. Hawaii ($4.78) is second, Arizona ($4.42) is third, Washington ($4.40) is fourth, and Nevada ($4.24) is fifth. These are the only five states with averages at or above $4 a gallon. This week 45 states and the District of Columbia have averages in the $3-range. No states have averages in the $2 range this week, same as a week ago.
The cheapest gas in the nation is in Mississippi ($3.14) and Arkansas ($3.19). For the 117th week in a row, no state has an average below $2 a gallon.
The difference between the most expensive and least expensive states is $1.75 this week, compared to $1.82 a week ago.
Oregon is one of 41 states and the District of Columbia with higher prices now than a month ago. The national average is 13 cents more and the Oregon average is nine cents more than a month ago. Arizona (+47 cents) has the largest monthly jump. Colorado (-42 cents) has the largest monthly decline. The averages in Alaska and Maine are flat month-over-month.
All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 51 cents less and the Oregon average is 67 cents less than a year ago. California (-88 cents) has the largest yearly drop. Arizona (-19 cents) has the smallest. A year ago, pump prices were rising rapidly after the start of the Russian invasion of Ukraine.
