Middle East Conflict Keeps US Gas Prices Elevated

Gas prices in Oregon and across the US have ticked down in recent weeks due to decreased crude oil prices, but remain at historic highs for this time of year. The national average price for regular gasoline has dipped two cents to $4.46 a gallon, while the Oregon average declined four cents to $5.06 a gallon.

The ongoing conflict in the Middle East is contributing to elevated pump prices, as shipping traffic through the Strait of Hormuz remains restricted due to attacks on vessels. Crude oil prices remain volatile, with recent swings driven by concerns over global oil supplies.

According to Marie Dodds, public affairs director for AAA Oregon/Idaho, 'Drivers in Oregon are finding a little relief at the pumps as gas prices have been inching down since mid-September.' However, she notes that prices usually drop more significantly this time of year due to the switch from summer-blend to winter-blend fuel.