“The Oregon average for regular unleaded jumps to its highest price in nearly two years and has the biggest weekly jump in the nation at ten cents. For the week, the national average for regular unleaded slips a penny to $2.34 a gallon. Oregon’s average jumps a dime to $2.81, which is the highest price since early September 2015,” says AAA Oregon/Idaho Public Affairs Director Marie Dodds. “High demand for fuel surrounding the August 21 eclipse sent prices into orbit. Now add the upcoming Labor Day holiday into the mix and it’s likely pump prices will stay elevated into early September, remaining near two-year highs.”
Oregon is one of 11 states and the District of Columbia where gas prices increased in the last week. Oregon (+10 cents) and Idaho (+6 cents) have the largest weekly increases in the country. Ohio has the largest weekly drop (-8 cents).
Oregon is one of 48 states and the District of Columbia to see pump prices rise in the last month. The largest monthly increases are in Idaho (+20 cents) and Oregon (+15 cents). Ohio and Delaware are the only states where prices fell in the last month and both decreases are less than two cents. The national average is five cents more and the Oregon average is 15 cents more than a month ago.
With the exception of Hawaii where the average dropped one cent, every West Coast state saw gas prices rise in the last week. This region continues to have the most expensive pump prices in the nation. Hawaii remains the only state with an average at or above $3. California, Washington, Alaska, Oregon, Idaho and Nevada round out the top seven most expensive states. Oregon is fifth most expensive for the eighth week in a row.
Despite a small 100,000 bbl build on the week, West Coast gasoline inventories are 3.6 million bbl lower than this time last year. For the third consecutive week, the region’s total inventory registers under 27 million bbl, the lowest levels seen on the West Coast in 2017.
The nation’s cheapest markets are South Carolina ($2.06) and Alabama ($2.09). For the fourth week in a row, no states have an average below $2.
Drivers are paying more to fill up compared to one year ago. The national average is currently 17 cents per gallon more and the Oregon average is 38 cents more than a year ago.