A mixed bag for gas prices – they’re climbing in about half of all states.
The national average for regular gas has been inching up the last few days. It’s been close to $3 for weeks but has not fallen below that threshold. The Oregon average has been slowly ticking down and is at its lowest price of the year so far. Drivers heading out on holiday road trips will find the cheapest gas prices for the holidays since 2020. For the week, the national average for regular adds two cents to $3.03 a gallon.
The Oregon average loses three cents to $3.47 a gallon.
2024 will be a record year for holiday travel. AAA projects 119.3 million Americans (35% of the population) including 1.68 million Oregonians will travel 50 miles or more for the Christmas, Hanukkah, and New Year holidays. This year’s travel volume narrowly beats the previous record set in 2019 by 64,000 travelers. About 90% of holiday travelers will drive to their holiday destinations. Find details, graphics, and lots of advice for travelers in the AAA holiday travel news release.
Those taking a holiday road trip will find the cheapest gas prices for the holidays since 2020.
“Gas prices will often reach their seasonal lows sometime between December and February, so pump prices may be close to bottoming out. Crude oil prices increased last week, which can put some upward pressure on pump prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Still, drivers are enjoying a holiday gift of the lowest gas prices for the holidays in four years,”
The Oregon average began 2024 at $3.79 a gallon compared to $3.47 today. This is the lowest price so far in 2024 and the highest is nearly $4.51 on May 1. The national average started the year at $3.11 and is at $3.03 today. The lowest price so far this year is $3.01 on December 10, and the highest is just under $3.68 on April 19.
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. Prices usually decline to their lowest levels of the year in late fall and early winter before increasing again in the late winter and early spring.
Oregon is one of 26 states and the District of Columbia with lower prices now than a week ago. Alaska (-7 cents) has the biggest week-over-week drop. Ohio (+20 cents) has the largest week-over-week increase in the nation. The averages in Kansas and Alabama are flat.
Hawaii ($4.54) has the most expensive gas in the nation for the seventh week in a row. California ($4.32) is second. These are the only two states in the country with averages still at or above $4 a gallon. This week 18 states and the District of Columbia have averages in the $3-range. There are 30 states with an average in the $2 range this week.
The cheapest gas in the nation is in Oklahoma ($2.53) and Mississippi ($2.59). 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 $2.01 this week, compared to $2.04 a week ago.
Oregon is one of 39 states and the District of Columbia with lower prices now than a month ago. The national average is four cents less and the Oregon average is eight cents less than a month ago. Delaware (-32 cents) has the largest month-over-month drop in the nation. Ohio (+17 cents) has the largest month-over-month increase.
Oregon is one of 38 states and the District of Columbia with lower prices now than a year ago. The national average is four less and the Oregon average is 39 cents less than a year ago. This is the largest year-over-year drop in the nation. Ohio (+30 cents) has the largest year-over-year increase.
