Gas Prices Continue to Dip in Oregon, on the Coast
(Oregon Coast) – Oregon's AAA said prices at the pump continue to decline, with the national average dropping farther than in Oregon and on the coast. The national average for regular unleaded fell six cents this week to $3.58, while the Oregon average went down only two cents to $3.69.
Oregon's average is now 11 cents below the 2013 peak price to date of $3.80 a gallon on March 13. The peak price so far this year for the national average is $3.79 on February 27.
All 50 states in the U.S. are basking in a bit of a relief in gas prices, with nine states seeing a decline of more than 40 cents per gallon.
“In Oregon, drivers are paying 41 cents a gallon less than a year ago,” said AAA's Marie Dodds. “The national average’s 34-cent year-over-year decline is the largest such mark since October 20, 2009.”
A surge in retail gas prices started in early 2013, with national prices edging up 49 cents until the end of February. That made for a record increase in the first two months of any year, Dodds said. Only some of that problem was crude oil prices: the majority of the issue was a decline in refinery production and higher gasoline future prices on Wall Street.
“Similarly, the recent decline has not been a product of lower crude oil prices, which have actually increased during this stretch,” Dodds said. “Falling retail gas prices have instead been the result of an increase in refinery production and economic concerns, which have raised concerns about demand for gasoline.”
Gas prices on the Oregon coast are always five to 15 cents higher than inland cities like Portland or Eugene. Prices in Newport seem to typically be the lowest on the Oregon coast, but not by a lot.
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