Low crude oil prices and the tepid demand for gas that we normally see this time of year continue to put downward pressure on pump prices.
The national and Oregon averages for regular gas are both very close to their year-to-date lows and are expected to fall below the 2024 low prices in the coming days. For the week, the national average for regular slips two cents to $3.08 a gallon.
The Oregon average loses three cents to $3.59 a gallon.
“The Oregon and national averages for regular gas are almost down to the lowest prices we’ve seen so far in 2024. Both averages are expected to fall to new year-to-date lows in the coming days,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.
The Oregon average began 2024 at $3.79 a gallon compared to $3.59 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 $3.08 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.
The Oregon average is at its lowest price since February of this year while the national average is at its lowest price since January. This week, only one Oregon county still has an average above $4 a gallon: Wallowa ($4.12), same as a week ago.
Gas prices typically drop in the fall, due to the switch from summer-blend to winter-blend fuel, which costs less to produce. The switch starts in September. Many areas, including Oregon, can sell winter-blend fuel starting September 15. However, Northern and Southern California require summer-blend fuel through October 31.
Oregon is one of 41 states and the District of Columbia where prices are lower now than a week ago. Ohio (-14 cents) has the largest week-over-week drop in the nation. New Mexico (+3 cents) has the biggest week-over-week increase.
Hawaii ($4.59) has the most expensive gas in the nation for the second week in a row. California ($4.51) is second and Washington ($4.01) is third. These are the three states with averages at or above $4 a gallon, same as a week ago. This week 20 states and the District of Columbia have averages in the $3-range. There are 27 states with an average in the $2 range this week.
The cheapest gas in the nation is in Oklahoma ($2.59) and Texas ($2.65). 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 $2.00 this week, compared to $1.94 a week ago.
Oregon is one of 49 states and the District of Columbia with lower prices now than a month ago. The national average is 13 cents less and the Oregon average is nine cents less than a month ago. Ohio (-34 cents) has the largest month-over-month drop in the nation. Georgia (+21 cents) is the only state with a month-over-month increase.
Oregon is one of 49 states and the District of Columbia with lower prices now than a year ago. The national average is 29 cents less and the Oregon average is 63 cents less than a year ago. This is the largest year-over-year drop in the nation.
