Pump Prices Reverse Course to Start May

Gas Pump
Oregon does not depend on the Gulf Coast for its gasoline, meaning Hurricane Harvey isn't impacting prices at the gas pump. (Photo: Pixabay)

An unseasonable glut of gasoline in the U.S., high refinery output and a recent drop in crude oil prices are all putting the brakes on the normal spring run-up in pump prices.

For the week, the national average for regular unleaded loses four cents to $2.34 a gallon, while Oregon’s average slips two cents to $2.74, says AAA Oregon/Idaho Public Affairs Director Marie Dodds.

“Both averages are down slightly from their year-to-date highs reached last month, and prices in many states, including Oregon, are now lower than they were a month ago,” Dodds said.

All 50 states saw gas prices drop in the last week. Only the District of Columbia has an increase and it is only three-tenths of a cent. The largest weekly decreases are in Ohio (-9 cents), Michigan (-8 cents) and Indiana (-8 cents).

Oregon is one of 31 states where prices are lower now than a month ago. The largest monthly decrease is in Indiana (-26 cents) and the largest increase is in Idaho (+11 cents). The national average is four cents less and the Oregon average is a penny less than a month ago.

Pump prices on the West Coast are a bit lower than a week ago but are still the most expensive in the country: Hawaii is most expensive and is the only state with an average at or above $3. California, Alaska, Washington, Oregon and Nevada round out the top six. Oregon is fifth most expensive for the 10th week in a row.