Oregon's Gas Prices Decline Amid National Average Increase

Gas prices in Oregon have declined slightly this week, bucking the trend of rising costs across the country. According to data from JAM'N 107.5, the national average price for regular gas has increased by 15 cents to $4.48 per gallon, while Oregon's average price has slipped just two cents to $5.10 per gallon.

This represents the largest week-over-week decline in the country, with prices in 45 states seeing an increase. The national average price for diesel fuel is at an all-time high of $6.53 per gallon, while Oregon's average price is at $6.87 per gallon.

The drop in gas prices comes despite crude oil prices remaining above $100 per barrel, with the U.S. benchmark West Texas Intermediate (WTI) trading around $95 today. The conflict between the U.S. and Iran continues to put upward pressure on crude oil prices, which have ranged from $68 to nearly $113 per barrel since the conflict began.

Marie Dodds, public affairs director for AAA Oregon/Idaho, notes that gas prices usually decline this time of year as demand decreases and the switch to winter-blend fuel occurs. However, crude oil prices remain high due to ongoing volatility in the Middle East.