Gas prices continue to drift lower in most states, including Oregon. The major drivers are crude oil prices below $80 a barrel, as well as tepid demand for gas and rising supplies in the U.S.
For the week, the national average for regular dips three cents to $3.61. The Oregon average falls four cents to $4.42 a gallon.
“Pump prices should continue to move lower between now and Memorial Day, barring unforeseen events. Refinery maintenance season is by and large over, and refineries are cranking out products such as gasoline, diesel and jet fuel,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “However, crude oil prices remain the major wildcard and could easily move up again, depending on what happens in the Middle East and in the war between Russia and Ukraine.”
AAA says Memorial Day travel will be the second-busiest on record. AAA projects 43.8 million Americans million people (13%) of the population) will travel 50 miles or more from home this Memorial Day weekend. This is an increase of 4% over 2023 and just shy of matching the record of 44 million travelers in 2005.
About 600,000 Oregonians will travel over the long weekend.
Oregon is one of 43 states and the District of Columbia with lower prices now than a week ago. Ohio (+14 cents) has the biggest weekly increase. Nevada (-9 cents) has the largest week-over-week decline in the nation.
California ($5.27) has the most expensive gas in the nation for the 11th week in a row and remains the only state in the nation with an average at or above $5 per gallon. Hawaii ($4.81) is second, Washington ($4.64) is third, Nevada ($4.43) is fourth, Oregon ($4.42) is fifth, and Alaska ($4.38) is sixth. These are the six states with averages at or above $4 a gallon, down from seven states a week ago. This week, Arizona ($3.94) has dipped below the $4 mark. This week 44 states and the District of Columbia have averages in the $3-range. No states have averages in the $2 range this week.
The cheapest gas in the nation is in Mississippi ($3.08) and Oklahoma ($3.13) and. No state has had an average below $2 a gallon since January 7, 2021, when Mississippi and Texas were below that threshold.
The difference between the most expensive and least expensive states is $2.20 this week, compared to $2.23 a week ago.
Oregon is one of 34 states and the District of Columbia with lower prices now than a month ago. The national average is two cents less and the Oregon average is also two cents less than a month ago. Rhode Island (+23 cents) has the largest monthly jump. Nevada (-21 cents) has the biggest monthly decline.
Oregon is one of 34 states and the District of Columbia with higher prices now than a year ago. The national average is eight cents more than a year ago and the Oregon average is 29 cents more than a year ago. This is the third-largest yearly gain in the nation. California (+47 cents) has the largest year-over-year increase. Arizona (-73 cents) has the largest yearly decrease.
