Pump prices are down in Oregon and across the country for the ninth week in a row. Crude oil prices remain below $100 per barrel and demand for gas is lower than a year ago. These factors continue to put downward pressure on pump prices.
For the week, the national average for regular loses eight cents to $3.95 a gallon. The Oregon average dips four cents to $4.87.
The national average reached its record high of $5.016 on June 14 while the Oregon average reached its record high of $5.548 on June 15. Both averages have been steadily declining since then. The major drivers of lower pump prices have been falling crude oil prices and a few weeks of seasonally low demand for gas.
“Falling pump prices may eventually entice drivers to hit the road but it’s not happening yet. It appears drivers are waiting for lower prices before going back to their typical driving habits,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.
A recent survey from AAA showed that Americans have changed their driving habits to cope with high gas prices. Almost two-thirds (64%) of U.S. adults have changed their driving habits or lifestyle since March, with 23% making “major changes.” Drivers’ top three changes to offset high gas prices are driving less, combining errands, and reducing shopping or dining out. Other changes include delaying major purchases, postponing vacations and saving less money.
Oregon is one of 49 states and the District of Columbia with lower prices now than a week ago, and 18 states have double-digit declines, down from 46 a week ago. Maine (-19 cents) has the largest weekly drop. Nevada (-3 cents) has the smallest. Wisconsin (+2 cents) is the only state with a week-over-week increase.
California ($5.36) is the most expensive state and is one of only two states with an average at or above $5 a gallon, same as a week ago. Hawaii ($5.35) is the only other state with an average at or above $5. This week 21 states, including Oregon, and the District of Columbia have averages at or above $4, and 29 states have averages in the $3-range.
The cheapest gas in the nation is in Texas ($3.46) and Arkansas ($3.46). For the 84th week in a row, no state has an average below $2 a gallon.
All 50 states and the District of Columbia have lower prices now than a month ago. The national average is 60 cents less and the Oregon average is 43 cents less than a month ago. Oregon has the 44th-largest monthly decrease in the nation. Kansas (-85 cents) has the largest monthly drop. Hawaii (-25 cents) has the smallest.
All 50 states and the District of Columbia have higher prices now than a year ago. The national average is 76 cents more and the Oregon average is $1.07 more than a year ago.
