Salem, Oregon Gas Prices Continue to Fall

The top five most expensive states are Hawaii, Alaska, California, Oregon and Washington.

While the national average for regular unleaded dipped a nickel this week to $3.52, Oregon’s average slipped one-and-a-half cents to $3.93. Photo: Salem-News.com

(SALEM, Ore. ) - While the national average for regular unleaded dipped a nickel this week to $3.52, Oregon’s average slipped one-and-a-half cents to $3.93.

AAA Oregon/Idaho Public Affairs Director Marie Dodds said the national average is at it's lowest price since mid-March, while Oregon’s average is at it's lowest price since mid-June.

In the Salem-Keizer area, the average price fell one cent to $3.90, while in the Portland-Vancouver area dropped two cents to $3.92 a gallon. Down south, the average price in Eugene fell 3 cents to $3.90 a gallon, and in the Medford-Ashland area prices dropped a penny to $3.95.

The decrease in pump prices is due to U.S. refineries running near their highest rates since 2005, according to the U.S. Energy Information Administration, and domestic demand that was reported last week to have dropped back below nine million barrels per day.

The national average has fallen 18 cents below its year-to-date high of $3.70 a gallon on April 28. Oregon’s average has fallen five cents from its year-to-date high of $3.98 on July 3.

The national average price for unleaded gasoline has dropped every day in July and has fallen on 32 consecutive days, which is just short of the multi-year record of 36 straight daily declines registered last fall.

The national average of $3.52 per gallon is five cents less than one week ago, 16 cents less than one month ago and 12 cents less than the same date last year. Both the weekly and monthly declines are the largest registered drops since November.

Oregon is one of 46 states and Washington D.C. where prices at the pumps have fallen in the last week, led by several Midwestern states where prices have tumbled more than a dime per gallon.

Hawaii continues to have the most expensive gas in the nation at $4.34 per gallon. Pacific states continue to lead the market with the highest prices per gallon.

The top five most expensive states are Hawaii, Alaska, California, Oregon and Washington.

Notably, over the past 14 days the price has fallen in almost every state, and Washington D.C., with the exception of Wyoming and Idaho where drivers are paying a penny more per gallon.

Drivers in nearly every state, including Oregon, are enjoying month-over-month declines in gas prices. The price has dropped in 47 states and Washington D.C. over the past 30 days.

Year-over-year averages reflect similar savings for most consumers, with prices in 46 states and Washington D.C. paying less for gas now than on this date one year ago. However, Oregon is one of just four states where the current average is still more than it was a year ago.

The global oil market continues to closely monitor the situation abroad, including tensions between Ukraine and Russia, Hamas and Israel, and production issues in Libya due to civil unrest.

These events have yet to impact global supply, but have been cited by analysts as factors keeping a “floor” under crude oil prices and may limit how far U.S. pump prices can fall.

Crude prices are down about five percent over the last month, and are about $3 per barrel lower than a year ago.

This week there are two states with regular unleaded at or above $4 a gallon, down from three last week: Hawaii and Alaska, with California dipping below the $4 mark.

For the 27th week in a row, there are no states with an average below $3 per gallon, and no states within a dime of this mark for the 23rd week in a row.

Hawaii has the most expensive gas in the country for the 92nd consecutive week at $4.34, followed by Alaska at $4.15, California at $3.99 (down a nickel and third for the fifth week in a row), Oregon at $3.93 (down a penny and up from fifth last week), and Washington at $3.93 (down two cents and down from fourth last week).

Idaho is ninth up from 10th last week at $3.78 (up two cents). South Carolina has the cheapest gas in the country for the sixth week in a row at $3.26 a gallon (down four cents).

Diesel prices are edging down in most markets. The national average slips two cents to $3.84 a gallon this week.

Oregon’s average remains at $3.94.

Diesel is at or above $4 a gallon in eight states, down from 10 last week. Hawaii is most expensive at $4.86, followed by Connecticut at $4.25, Alaska at $4.24, New York at $4.23, and California at $4.12 (down a penny). Washington is seventh for the sixth week in a row at $4.02 (down a penny).

Idaho is 13th up from 14th at $3.96 (same price as last week). Oregon is 14th up from 16th last week. A year ago, the national average for diesel was $3.88 and Oregon's was $3.94.

Salem-Keizer - Willamette Valley - Oregon Coast Average Gas Prices:

• Salem-Keizer: $3.90
• Albany: $3.90
• Corvallis: $3.87
• Newport: $4.02
• Lincoln City: $3.99
• Eugene-Springfield: $3.90
• Silverton: $3.89
• Portland-Vancouver: $3.92