Pump prices are cheaper in most states including Oregon this week as an increase in gasoline stocks has put downward pressure on prices.
For the week, the national average slips one-and-a-half cents to $2.60 a gallon. The Oregon average falls a nickel to $3.26. Oregon’s is the third-largest weekly decline in the nation.
“We would expect the trend of falling gas prices to continue through this month, but the travel surge for Thanksgiving could cause price volatility and drivers could see increases at the pumps leading up to and through the holiday weekend,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. AAA projects the second-highest travel volume for Thanksgiving on record with 55 million Americans traveling for the holiday including 748,000 Oregonians. The vast majority — 49.3 million Americans including 643,000 Oregonians — will drive to their Thanksgiving destinations.
Oregon is one of 39 states where prices are lower now than a week ago; As mentioned above, Oregon (-5 cents) has the third-largest weekly decline in the country. California (-9 cents) has the largest week-over-week decline, and Delaware is second (-8 cents). Ohio (+5 cents) has the biggest weekly jump, followed by Indiana (+4 cents). Prices are flat in Hawaii.
This week there are six states with an average above $3 a gallon, same as a week ago. For the last seven weeks, California has been the only state in the nation with an average above $4 a gallon. The California drops below the $4 a gallon mark this week, falling to $3.94.
Oregon is one of 41 states with lower prices now than a month ago. The national average is five cents less and the Oregon average is 8 cents less than a month ago. This is the ninth-largest monthly decrease in the nation. California (-21 cents) has the largest month-over-month decline and Michigan (-17 cents) is second. Utah (+18 cents) has the largest month-over-month increase.
