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Oregon Coast Travel: Gas Prices Continue Drop

Published 06/13/2019 at 5:53 AM PDT
By Oregon Coast Beach Connection staff

Oregon Coast Travel: Gas Prices Continue Drop

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(Oregon Coast) - Pump prices in Oregon and the rest of the country continue to drop, with the national average less than $3 per gallon but Oregon’s average falling to $3.33 a gallon. These two-month lows are great news for summer travelers to the Oregon coast, and the falling prices are likely to continue.

“Lower crude oil prices are putting downward pressure on pump prices. At the same time, supply in the U.S. is keeping pace with demand,” said Marie Dodds, public affairs director for AAA Oregon/Idaho. “Refinery utilization in the U.S. is at its highest level since early January, resulting in overall gasoline stocks at healthy levels to meet strong summer demand.”

Demand has remained high at about 9.4 million barrels a day, according to Dodds. However, stockpiles of gasoline have increased each week at nearly 4 million bbl ahead of the five-year average.

All 50 states saw a price drop over recent weeks, with Ohio lowering 22 cents and Indiana getting 17 cents cheaper over the last week. This week there are nine states with an average above $3 a gallon, same as a week ago.

Oregon remains one of the highest in the nation, along with the rest of the west coast, still it has seen an 11-cent drop since last month. The national average dip in price is 13 cents in the last month. Washington, Oregon and California are in the top ten most expensive. Oregon has seen the largest drop of the west coast states.

At the core of the issue is that West Coast gasoline stocks increased by approximately 2.4 million bbl from the previous week and now sit at 30.8 million bbl. This is a mere 300,000 bbl less than last year’s level at this time, which AAA said could well cause prices to keep falling if no disruptions in supply occur.

For drivers around the state and those coming from or going to the Oregon coast, summer gas prices may be much lower than usual and could get much closer to $3 per gallon.

Gas prices are always about 10 to 15 cents higher on the Oregon coast due to increased transportation costs over the coast range. Oregon Coast Hotels in this area - Where to eat - Maps - Virtual Tours



 










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