For The Week of 11/25-11/31
Whole sale fuel prices experienced minimal price variance throughout the week closing at just $0.04 cents over the price at the beginning of the week ($2.29). With extreme winter weather throughout the Portland metro area, many drivers were staying off the roads. Lower seasonal demand for fuel is a common annual trend. Although, 2022 was expected to one of the busiest years of holiday travel since 2019, with over 1.6 million Oregonians traveling (90.4% by vehicle).
All 50 states saw prices fall this week ranging from $0.03-$0.21 in price drops. According to AAA the Oregon retail average was $3.82 after a $0.16 price drop throughout the week. Oregon is experiences its lowest price since last January while the national average it at its lowest since July 2021. With crude oil hovering around $70 per barrel, and fuel pricing trends moving downward, drivers can look forward to another week or two of falling pump prices.
*Chart source: https://www.gasbuddy.com/Charts
RACK WEEK AVERAGE (EXCLUDING TAXES)*
|Wholesale Price Average||Wholesale Low||Wholesale Avg|
RETAIL WEEK AVERAGE*
|Retail Price Average||National||Oregon||Washington|
|Taxes||Federal||State: OR||Local||State: WA|
|Gas||.184||.36||.0 - .13||.494|
|Diesel||.244||.36||.0 - .10||.494|
*Numbers are an accumulation from different sources including AAA and Gasbuddy
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