PORTLAND, Ore. (KOIN) — Gas prices in Oregon fell more than gas prices in any other state over the past week, according to AAA.
The current average cost for a gallon of regular unleaded gas in Oregon is $3.70, which is down four cents from the previous week. Across the U.S., the average cost has increased by four cents to $3.27.
AAA reports that the national average for regular gas has consistently risen since Christmas Eve. It cites late December’s winter storm that had many travelers scrambling to get on the road for the holidays as a reason for the increase.
Oregon prices are on the decline while national prices are increasing, but at slower rates. This trend could continue going into next month.
“As we head toward February, pump prices will likely fall a little more, barring any supply disruptions or jolts in the global oil markets,” AAA Oregon/Idaho public affairs director, Marie Dodds, said in a release. “However, the national average may have already bottomed out for the winter. The Oregon average may have more room to slip a little more before the seasonal increases begin.”
For Portlanders, gas-monitoring company GasBuddy said the average price for a gallon had decreased by 2.5 cents in a week. As of Monday, Jan. 9, the average cost across 387 Portland-area gas stations stood at $3.82.
Once the weather begins to warm up and people drive more frequently, Portlanders and all Oregonians can expect prices to rise again.
“As long as refiners are able to get back online soon from previous cold-weather outages, we could see supply start to recover at the same time demand is weak, which could bring gas prices down again,” GasBuddy’s head of petroleum analysis, Patrick DeHaan, said. “The window of opportunity, however, is shrinking, and by late February or early March, we’ll likely kick off the seasonal rise in gasoline prices.”