Gas Prices Continue Drop as Fuel Demand Hits 27 Year Low

PORTLAND, Ore. — Gas prices around the country and here in Portland are continuing to fall due to historic lows for demand of gas and in turn crude oil.

Marie Dodds with AAA Oregon – Idaho said the U.S. has it’s lowest demand for gasoline in the U.S. has fallen to its lowest level since 1993 as Americans are urged to stay at home because of the coronavirus pandemic. Pump prices are falling in all 50 states. For the week, the national average for regular unleaded loses eight cents to $1.92 a gallon. The Oregon average also falls eight cents to $2.62.

The national average is at its lowest price since January 2016, and the Oregon average is at its lowest price since March 2017.

Dodds said the U.S. normally consumes about 9 million barrels of oil per day, but because of stay at home orders, we are only consuming about 6.5 million barrels.