Fuel Market Report

Our fuel market report provides you with up to date information about our most recent market.

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Fuel Market Report: April 7th, 2024 – April 13th, 2024 1024 683 Star Oilco

Fuel Market Report: April 7th, 2024 – April 13th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The second week of April brought small variances to the retail market as the wholesale market closed with the same rack averages as it opened at last week. In Oregon, the retail market bumped up $0.04 for gasoline and $0.02 for diesel. The national average for gasoline also increased by $0.04 while diesel went up by only $0.03. Compared to the first week of April, this past week was much less extreme in terms of price variance, as most products on the market did not vary by more than $0.05.

Take advantage of current fuel prices and top off your tank

 

Reasons For Higher Prices:

Crude oil is trading above $80 for the fourth straight week at a current price of $85.59/barrel. $0.38 higher than last week, as oil prices trended upward, this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $85.59 per barrel compared to $85.21 last week and $89 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 31st, 2024 – April 6th, 2024 1024 683 Star Oilco

Fuel Market Report: March 31st, 2024 – April 6th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

Don’t let April Fool’s Day trick you, fuel prices are on the rise. The fuel market experienced significant price jumps for both gas and diesel this past week. Retail gas prices jumped $0.12, while diesel jumped $0.05. The wholesale market also bounced up this past week as rack averages bumped up $0.10 for gasoline and $0.17 for diesel. As we get into April and May it is likely we will see diesel in the $4.50-$5.00 range, as gas has already entered this range. Oil is above $80/barrel for the fourth week in a row, at a current price of $85.21/barrel. This is one of the main contributors to the higher fuel prices we have seen in recent weeks.

Oil prices are still above $80/barrel for the third time this month. This is one of the main contributors to the higher fuel prices we have seen in recent weeks.

 

Take advantage of current fuel prices and top off your tank

 

Reasons For Higher Prices:

Crude oil is trading above $80 for the third week at a current price of $85.21/barrel. $0.25 lower than last week, as oil prices trended downward slightly, this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $85.21 per barrel compared to $85.46 last week and $87 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 24th, 2024 – March 30th, 2024 1024 683 Star Oilco

Fuel Market Report: March 24th, 2024 – March 30th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The market experienced minimal price variance throughout the week, as prices closed within $0.02 of their opening price across the board for gas and diesel. The diesel market began to rise following the uptick in diesel prices this past week. Although retail prices only moved half a cent from the week before. Gas prices have continued to climb as gas demand increases with tight gasoline supplies in the West Coast markets. The retail average for gasoline in Oregon is $4.29/gal, while diesel is averaging around $4.31/gal. The retail price for gasoline in Portland is $4.36/gal, with diesel averaging at $4.41/gal. 

Oil prices are still above $80/barrel for the third time this month. This is one of the main contributors to the higher fuel prices we have seen in recent weeks.

 

Take advantage of current fuel prices and top off your tank

 

Reasons For Higher Prices:

Crude oil is trading above $80 for the third week straight at a current price of $85.46/barrel. $3.55 higher than last week, as oil prices trended upward this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $85.46 per barrel compared to $81.91 last week and $88 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 17th, 2024 – March 23rd, 2024 1024 683 Star Oilco

Fuel Market Report: March 17th, 2024 – March 23rd, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The diesel market experienced minor fluctuations this past week. Rack average pricing raised $0.07/gal while retail average prices increased $0.03 from the week before. The diesel market for B5 & B20 in the Portland area has seen much lighter fluctuations than the gasoline market in weeks prior. The gasoline market experienced significant fluctuations this past week as retail prices rose by $0.12/gal while rack average pricing raised just $0.07/gal. Although most retail stations in Portland are hovering around $3.20-3.40/gal for gasoline which is higher than the average price reported by AAA.

Oil prices are still above $80/barrel for the second time this month. With higher oil prices come higher fuel prices across the board, as we have seen in recent weeks. Drivers are back to searching for the cheapest fuel in town as prices continue to rise.

 

Take advantage of current fuel prices and top off your tank

 

Reasons For Lower Prices:

 

Crude oil is trading above $80 for the second week straight at a current price of $81.91/barrel. $0.77 lower than last week, as oil prices trended downward this week.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $81.91 per barrel compared to $82.68 last week and $86 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 10th, 2024 – March 16th, 2024 1024 683 Star Oilco

Fuel Market Report: March 10th, 2024 – March 16th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The diesel market jumped this week with prices increasing by $0.12 on the wholesale market, to an average of $2.66 as of Monday. B20 prices experienced minor fluctuations as rack average pricing fluctuated only $0.05. The gasoline market experienced the biggest spike this past week as rack average prices increased by $0.23 from the week prior.

As predicted last week, retail fuel prices in Oregon are averaging slightly over $4/gal with most stations in Portland hovering around $3.99-4.10. Oil prices have surpassed $80/barrel for the first time in months, which will play a major role in the uptick in fuel prices in the market. Consumers can expect fuel prices to increase as we enter the Spring season this week on March 19th with the summer fuel blend hitting the market.

 

Take advantage of current fuel prices and top off your tank

 

Reasons For Lower Prices:

 

Crude oil is trading above $80 for the first time in months at a current price of $82.68/barrel. $4.55 higher than last week, as oil prices trended upward for the first time this month.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $82.68 per barrel compared to $78.13 last week and $84 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 3rd, 2024 – March 9th, 2024 150 150 Star Oilco

Fuel Market Report: March 3rd, 2024 – March 9th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The diesel market experienced downward price fluctuation, as rack average prices dropped $0.12 down from $2.71 last week. However, B20 rack averages experienced minor fluctuations closing the week at the same price they opened at. The gasoline market went up this week with rack average prices increasing $0.11 from the week prior.

We will likely see retail gas prices over $4.00 soon, as most stations in Portland are hovering around $3.90. Oil prices experienced minor fluctuations this week as prices shot up in the middle of the week but closed the week at the same price it did last week at $78/barrel. Oil prices are still under $80/barrel but consumers can still expect fuel prices to increase as we enter the Spring season next week on March 19th.

 

Take advantage of current fuel prices and top off your tank

 

Reasons For Lower Prices:

 

Crude oil is trading below $80 for the ninth straight week at a current price of $78.13/barrel. $0.36 lower than last week, as oil prices trended downward for the second week straight.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $78.13 per barrel compared to $78.49 last week and $83.70 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: Feb 25th, 2024 – March 2nd, 2024 150 150 Star Oilco

Fuel Market Report: Feb 25th, 2024 – March 2nd, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The market as a whole experienced minimal price changes this week. Rack average prices had no changes for three straight days this week, with minor fluctuations on Thursday and prices falling on Friday into the weekend. Retail prices have begun to rise as the average price per gal for gas in Portland raised $0.10 this week. California switches back to the summer blend of fuel earlier than other states and this has affected overall fuel supply on the West Coast. Consumers can expect to see prices continue to rise over the next few weeks into March as fuel prices normally increase in the first and second quarter of the year.

Oil prices increased to $78/barrel compared to $77 last week. Oil prices are still under $80/barrel but consumers can still expect fuel prices to increase.

 

Take advantage of current fuel prices and top off your tank

 

Reasons For Lower Prices:

 

Crude oil is trading below $80 for the eighth straight week at a current price of $78.49/barrel. $0.30 lower than last week, as oil prices trended downward for the first time in weeks. Although with a drop of $0.30, the market was hardly affected.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $78 per barrel compared to $77 last week and $85 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: Feb 18th, 2024 – Feb 24th, 2024 150 150 Star Oilco

Fuel Market Report: Feb 18th, 2024 – Feb 24th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The diesel market experienced minor price fluctuations throughout the week closing at $2.77, only $0.05 higher than its opening price of $2.73. The gas market experienced much more extreme price fluctuations, closing the week at $2.74, $0.43 higher than its opening price of $2.31. Many refineries are running the last of their winter fuel blend and will be undergoing maintenance as they make the switch back to the summer blend of fuel. This may have effects on overall supplies in many regions which will likely contribute to the upward movement of fuel prices across the board.
Oil prices dropped slightly to $77/barrel compared to $78 last week. Oil prices are still under $80/barrel which is often a good sign for fuel prices.

 

Take advantage of current fuel prices and top off your tank

 

Reasons For Lower Prices:

Crude oil is trading below $80 for the seventh straight week at a current price of $77.78/barrel. $0.30 lower than last week, as oil prices trended downward for the first time in weeks. Although with a drop of $0.30, the market was hardly affected.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $77 per barrel compared to $78 last week and $87 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: Feb 4th, 2024 – Feb 10th, 2024 150 150 Star Oilco

Fuel Market Report: Feb 4th, 2024 – Feb 10th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The diesel market experienced spikes throughout the week, as the market closed $0.20 higher on Friday from its opening OPIS rack average of $3.48. Gasoline prices fluctuated upwards as prices rose $0.08 to end the week. Oil prices increased this week going from $72/barrel to $76/barrel. This price increase could likely be partly responsible for the uptick in diesel prices. As we approach March, fuel prices are likely to continue their price hike into Spring.

Take advantage of current fuel prices and top off your tank

 

Reasons For Lower Prices:

Crude oil is trading below $80 for the fifth straight week at a current price of $76.21/barrel. $2.00 higher than last week, as oil prices trended upward for the second week straight.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $76 per barrel compared to $72 last week and $89 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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January 2024 Fuel Market Recap 1024 697 Star Oilco

January 2024 Fuel Market Recap

January 2024 Fuel Market Recap for Portland, Oregon

  • Stable oil prices: Unlike previous years, oil prices remained relatively stable in January 2024 globally, impacting local markets like Portland. This stability stemmed from:
    • Increased oil production from the Americas.
    • Weaker economic growth globally, leading to lower demand.
    • Ongoing geopolitical tensions with limited impact on supply chains.
  • Gradual price increase: Despite stability, experts predicted a gradual increase in fuel prices starting in March 2024

Review the January 2024 recap on the Fuel Market for the United States, As Well As Key Factors Affecting Fuel Prices and Predictions for February 2024, on our website.

The average price of a gallon of regular unleaded gasoline in Portland, Oregon, was $4.61 on November 30, 2023, up from $4.44 on November 1, 2023. This represents a 3.6% increase over the month.

January 2024 Fuel Market Recap for United States

Overall stability: January 2024 saw continued fuel price stability compared to December 2023.

Crude oil: Prices remained relatively stable compared to previous years, averaging around $75 per barrel.

Gasoline: Average retail price hovered around $3.30 per gallon, slightly lower than December 2023.

Diesel: Prices stayed consistent with December 2023, ranging from $3.70 to $3.90 per gallon.

Natural gas: Prices fluctuated throughout the month but ended within the same range as December 2023, around $2.50-$3.00 per MMBtu.

Key influencing factors

Stable global oil production: Increased production from the Americas balanced global demand.

Weaker global economic growth: Lowered demand for crude oil and refined products.

Geopolitical tensions: Although ongoing, their impact on oil supply chains was limited in January.

Seasonal demand: Winter weather in January did not reach extreme levels, impacting natural gas demand less than expected.

Regional variations:

Fuel prices can vary significantly between regions due to factors like taxes, transportation costs, and refinery capacity.

For specific regional variations, it’s crucial to consult resources like:

Local news reports: Articles mentioning fuel prices in your area.

Industry publications: Trade publications related to specific fuel types might offer regional reports.

Fuel delivery companies: Contacting local providers for localized insights and January-specific details.

Predictions for February 2024

While unexpected events like geopolitical shifts or extreme weather conditions can always influence fuel prices, it appears that most experts predict continued stability in crude oil prices throughout February, barring unforeseen events. This could translate to stable or slightly fluctuating fuel prices across the US. Some analysts foresee a gradual price increase starting in March 2024, which could potentially impact February prices to a minor extent.

Exploring Options for Sustainable Fuels

While gasoline and diesel remain dominant players, venturing into the world of alternative energy sources offers exciting possibilities.

Reduced Carbon Footprint

Biodiesel, derived from renewable resources like plants or used cooking oil, boasts a significantly lower carbon footprint compared to conventional diesel. Renewable energy sources like solar and wind power eliminate greenhouse gas emissions altogether, contributing to a cleaner planet.

Diversifying Your Fuel Mix

Dependence on a single fuel source presents vulnerability to price fluctuations and supply disruptions. Embracing alternative options fosters energy security by reducing reliance on fossil fuels and opening doors to diverse, domestic energy sources.

Long-Term Gains

While initial setup costs for renewable energy systems might be higher, long-term benefits outweigh them. Biodiesel can offer price parity with diesel in some regions, and renewable energy costs are steadily declining.

Start Small, Experiment, and Adapt

Gradually incorporate alternative fuels or renewable energy sources into your operations. Learn from experience and adjust your approach as needed.

Remember, the transition to a sustainable fuel future is an ongoing process. By exploring options like biodiesel and renewable energy, we can power our world responsibly, ensuring a more secure and environmentally friendly future for generations to come. Feel free to contact one of our fuel experts at Star Oilco to discuss how renewable fuels can benefit your operations.

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