Surging Crude Oil Prices Send Pump Prices Higher Despite Decreasing Demand

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Retail gas prices are rising in the first days of 2021 even though demand for gasoline has fallen to the lowest level in eight months. Crude oil prices have surged above $50 per barrel, putting upward pressure on pump prices. Many states are seeing increases of more than a nickel.

For the week, the national average for regular jumps seven cents to $2.33 a gallon. The Oregon average adds four cents to $2.65.

Find details and graphics in the news release.

The national average is at its highest price since last March. The Oregon average is at its highest price since last September.

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