Oregon Gas Prices Continue To Rise
Portland, Ore. — Lower crude oil prices and a decrease in gasoline demand in the US are beginning to slow the rise of pump prices. Although almost half of all states, including Oregon, are experiencing increased prices this week, the rate of growth is slowing. The national average for regular unleaded fell two cents to $3.66 a gallon last week, while the Oregon average rose four cents to $4.09. Experts suggest that if crude oil prices remain below $80 per barrel, there may be a fall in gas prices. In March, crude oil prices ranged from about $64 to $81 per barrel, while in April, they traded around $77, compared to $81 a week ago and $99 a year ago. Pump prices are impacted by crude oil prices on the global market, as crude oil is the main ingredient in gasoline and diesel. The switch to summer-blend fuel, which is more environmentally friendly but more expensive to produce, always puts upward pressure on pump prices in the spring. California has already switched to summer-blend fuel, while the federally mandated deadline is May 1. The West Coast region often sees prices rise earlier than other parts of the country because of the earlier California deadline.