GasBuddy: average pump prices up 2.1 percent

Average retail gasoline prices in Oregon have risen 2.1 cents per gallon in the past week, averaging $2.78 per gallon Sunday, according to GasBuddy.com’s daily survey of 1,307 gas outlets in Oregon. This compares with the national average that has increased 3.5 cents per gallon in the last week to $2.52, according to gasoline price website GasBuddy.

Including the change in gas prices in Oregon during the past week, prices yesterday were 23.3 cents per gallon higher than the same day one year ago and are 2.5 cents per gallon higher than a month ago. The national average has increased 9.0 cents per gallon during the last month and stands 18.7 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Jan. 15 in Oregon have ranged widely over the last five years: $2.55 in 2017, $2.22 in 2016, $2.29 in 2015, $3.30 in 2014 and $3.32 in 2013.

“With oil prices rallying to their highest level since 2014, it’s no surprise that gasoline prices continue to show frustrating strength for this time of year,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “While winter is usually a time for modest declines at the pump, this year has seen anything but. While two years ago areas of the country flirted with sub-$1 gas prices, we now see most areas more than double that.”

One bright spot however, is that gasoline production remains very strong at a time of year when it tends to be weak, and that could open the door for some larger discounts in the weeks ahead as refiners begin to move winter gasoline out of inventories to prepare for the transition to cleaner burning gasoline. The window is relatively small and closes shortly after Valentines Day, so don’t expect much improvement before the annual spring surge begins.”



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