As crude oil prices trend close to $30/bbl, Americans are seeing pump prices plummet across the country with decreases in all 50 states.
For the week, the national average for regular unleaded falls 13 cents to $2.24 a gallon. The Oregon average falls six cents to $2.91.
The national and Oregon averages are at their cheapest prices of the year so far. The national average is at its lowest price since January 2019 and the Oregon average is at its lowest price since last March.
“During these uncertain times of coronavirus, pump prices are declining despite shrinking U.S. stock levels. This is the time of year we normally see the spring run-up in gas prices,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “AAA expects gas prices to continue moving lower, with the national average likely to fall to $2 a gallon by the end of the month.”
Oregon is one of all 50 states and the District of Columbia where pump prices are lower this week. Ohio (-26 cents) has the largest weekly drop while Hawaii (-2 cents) has the smallest.
This week there are three states with an average at or above $3 a gallon, same as a week ago.
The cheapest gas in the nation can be found in Oklahoma ($1.90) and Ohio ($1.94). This is the first time in 57 weeks that one or more states has an average below $2 a gallon.
Oregon is one of 49 states and the District of Columbia with lower prices now than a month ago. The national average is 20 cents less and the Oregon average is six cents less than a month ago. Indiana (-49 cents) has the largest month-over-month decline. Idaho (+3/10 cent) is the only state with a monthly increase and it is less than one cent.
Oregon is one of eight states where drivers are paying more than a year ago. The national average is 31 cents less and the Oregon average is five cents more than a year ago. This is the fifth-largest yearly increase in the nation. Hawaii (+17 cents) and Utah (+17 cents) have the biggest year-over-year increases.
The West Coast continues to have the highest pump prices in the nation with all of the region’s states landing on the top 10 most expensive list.
Hawaii is most expensive for the 14th week in a row with California, Washington, Oregon, Alaska, Nevada, and Arizona rounding out the top seven. Oregon is fourth most expensive for the seventh week in a row.
Pump prices in all West Coast states are down week-over-week. California (-10 cents) has the largest drop in the region.
According to the U.S. Energy Information Administration’s (EIA) latest weekly report, total gas stocks in the region increased slightly from 31.41 million bbl to 31.64 million bbl, which is 1.14 million bbl lower than the level at this time in 2019. Pump prices are likely to continue decreasing this week, barring any supply challenges.
Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
For the week, the national average falls seven cents to $2.73 a gallon. Oregon’s average loses six cents to $3.06. A year ago the national average for diesel was $3.19 and the Oregon average was $3.10.