Oregon's Average Gasoline Prices are Climbing

The weakening U.S. dollar is a major factor in the price hike experts say.

Salem-News.com

(PORTLAND, Ore.) - "Gas prices continue to climb." AAA Oregon Public Affairs Director Marie Dodds says, "The national average increased five-and-a-half- cents in the past week to $2.88, And Oregon's statewide average jumps seven cents to $3.07 per gallon this week. The increase in gas prices comes after crude oil hit a record $93 per barrel Monday."

Drivers in Salem are paying $3.034 per gallon for regular, while Portland saw an average price of $3.043. In Eugene/Springfield, the average cost for gas is $3.087. Medford/Ashland's average price is $3.119. Motorists in Vancouver, Washington are paying $3.117 at the pump for self service regular.

A major factor in the price hike experts say, is the weak U.S. dollar. Oil is traded in dollars, and the U.S. currency has continued to decline against other major currencies. Also Mexico's state oil company had to suspend about a fifth of its oil production due to a storm. Gale-force winds in the Gulf of Mexico halted the supply of nearly 600-hundred-thousand barrels of crude oil a day from several deep-water platforms. And traders continue to be concerned about the conflict between Turkey and Kurdish rebels in Northern Iraq.

Gas prices have increased in all four of Oregon's measured metropolitan areas, and in Vancouver, WA. In Vancouver, Salem and Medford/Ashland, prices increased six cents per gallon in the past week. In Portland and Eugene, prices jumped up seven cents.

Oregon's gas prices are again the fifth-highest in the nation this week, behind Hawaii at $3.197, California at $3.194, Washington at $3.148, and Alaska at $3.111. Idaho's average is $2.970, and Nevada's climbs to $3.009. New Jersey continues to have the least expensive gas in the country at $2.657 per gallon.

Dramatic increases also continue in the diesel fuel market. In the past week, Oregon's average diesel price gained another seven cents and currently averages $3.527 per gallon. In the past month, diesel prices in Oregon have shot up 43 cents per gallon. The national average for diesel is currently $3.207, up another six cents. Hawaii has the highest statewide average price for diesel at $3.704. In Washington, diesel averages $3.672; California, $3.508; Idaho, $3.550, and Nevada, $3.394.
Source: AAA