PORTLAND, Ore., – Gas prices continue to increase but the rate is slowing down with 37 states, including Oregon, seeing increases of a nickel or less. For the week, the national average for regular gains four cents to $2.14 a gallon. The Oregon average adds three cents to $2.58.
The slower rate can be tied to demand. Measuring at 7.87 million b/d, U.S. gasoline demand saw a small week-over-week decline and continues to be significantly lower (21 percent) compared to this week last year.
“Demand levels are likely to ebb and flow in the coming weeks. States including Oregon are reopening but people continue to be cautious about travel,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “AAA expects pump prices to continue to rise but at a slower rate through the end of the month.”
Here in Oregon, traffic volumes are steadily increasing. The most recent traffic volume report (June 19, 2020) from the Oregon Department of Transportation shows the most recent full week saw an average reduction of 19 percent in weekday traffic volumes and a 26 percent reduction in weekend volumes overall compared to the previous year. For the month of April, traffic began with 43 percent lower weekday volumes and 55 percent lower weekend volumes than 2019.
https://www.oregon.gov/odot/Data/Documents/ODOT_TrafficReport_June19_2020.pdf
Oregon is one of 47 states and the District of Columbia with higher prices now compared to one week ago. West Virginia (+11 cents) and Delaware (+10 cents) have the largest weekly increases and are among 13 states with weekly increases greater than a nickel. Utah, Indiana and Hawaii are the only states with week-over-week declines and all are a cent or less.
For the second week in a row, Hawaii ($3.18) and California ($3.05) are the only two states in the nation with an average at or above $3 a gallon.
The cheapest gas in the nation can be found in Mississippi ($1.78) and Louisiana ($1.81). This is the 15th week in a row that one or more states has an average below $2 a gallon. In all, 13 states are below that benchmark, down from 19 a week ago.
All 50 states and the District of Columbia have higher prices now than a month ago. The national average is 19 cents and the Oregon average is 15 cents more than a month ago. This is the 37th -largest monthly increase in the country. Hawaii (+3/10 cent) has the smallest month-over-month increase.
All 50 states and the District of Columbia have lower prices now than a year ago. The national average is 52 cents less and the Oregon average is 66 cents less than a year ago. This is the 10th-largest yearly drop in the nation. Alaska (-84 cents) has the largest year-over-year drop. Colorado (-35 cents) has the smallest.
