Mar 13,2007 00:00
Oregon prices increase more than 25-cents in two weeks, state is now third highest in nation; San Francisco average is at $3.26/gallon
In mid-February, gasoline prices in Oregon were in the early stages of moving upward; by month's end, the statewide average price for a gallon of regular stood at $2.52. Since then, the average price has soared to $2.77, gaining slightly more than 25-cents per gallon in two weeks. That compares to the national average which rose from $2.37 to $2.54 in the same time period. Of Oregon's four measured metropolitan areas, Portland recorded the greatest two week price jump—almost 29-cents per gallon.
"Much of the price increase can be attributed to steadily rising demand for gasoline," said AAA Oregon Public Affairs Director Elliott Eki. "In addition, a number of major refineries are down for routine maintenance or repairs. They should be back on-line in the next few weeks, which is good news for most of the country."
Once those refineries are back in service, analysts with the Oil Price Information Service expect pump prices will level off. For the remainder of this month, however, they say motorists likely will see pump prices increase modestly.
Although the current national average price is well ahead of where it was one year ago, it's not expected to break the $3 barrier. California's statewide average already surpassed that mark and is currently $3.11. In San Francisco, a gallon of regular averages about $3.26.
At $2.77, Oregon's average gasoline price ranks third highest in the nation. California has the highest with Hawaii following at $2.90. Nevada's statewide average is $2.76; Washington's is $2.75; and Idaho's moved up 12-cents to $2.41. Wyoming has the lowest statewide average price at $2.31. During the past week, the national average diesel price rose to $2.74 per gallon. Idaho's average diesel price rose to $2.83, Nevada's went up to $2.86, Washington's moved up to $2.89, and California's rose slightly to $3.08. Oregon's average diesel price is $2.76.