Oregonians are paying 43 cents more per gallon since May as pump prices have steadily climbed in the last three months. AAA Nationally, drivers are paying an average of 28 cents more since early May. The beginning of August will likely be as expensive as July. For the week, the national average for regular adds two cents to $3.18 a gallon. The Oregon average rises three cents to $3.74.
The Oregon average was $3.31 three months ago on May 3, while the national average was $2.90.
“Pump prices in August could prove to be even more expensive if crude oil prices rise,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “An increase in global crude production is expected this month as OPEC (Organization of the Petroleum Exporting Countries) has said they will increase their crude output. However, even with the additional supply, global demand could outpace global supply and keep prices high.”
Demand for gasoline in the U.S. remains high at about 9.3 million barrels per day, just slightly lower than the 9.6 million barrels per day consumed in July 2019, prior to the pandemic.
With most states seeing the number of COVID-19 cases rising, that could have an impact on travel and consumption. Visit AAA.com/covidmap for an interactive map with the latest travel information. Find AAA’s latest COVID-19 information for travelers here.
Quick stats
Oregon is one of 48 states and the District of Columbia with higher prices now than a week ago. All increases are six cents or less. Nevada (+6 cents) and Montana (+6 cents) have the largest weekly increases in the country. West Virginia (-1/2 cent) and Ohio (-4/10ths of a cent) are the only two states with weekly declines.
California ($4.38) and Hawaii ($4.09) continue to have the most expensive gas prices in the country and are the only states with averages above $4 a gallon, and 34 states and the District of Columbia are above $3, up from 31 states and D.C. a week ago.
The cheapest gas in the nation is in Mississippi ($2.79) and Louisiana ($2.82). For the 30th week in a row, no state has an average below $2 a gallon.
Oregon is one of 47 states and the District of Columbia with higher prices now than a month ago. The national average is six cents more and the Oregon average is 10 cents more than a month ago. This is the ninth-largest month-over-month increase in the nation. Idaho (+31 cents) has the largest monthly increase in the country. Ohio (-3 cents) has the largest month-over-month decrease.
All 50 states and the District of Columbia have higher prices now than a year ago, and 18 states including Oregon have a current average that’s a dollar or more higher than a year ago. The national average is $1.00 more and the Oregon average is $1.08 more than a year ago. This is the ninth-largest yearly increase in the nation. Utah (+$1.51) has the biggest yearly increase. Arizona (+78 cents) has the smallest year-over-year increase. Compared to a year ago, gas prices are significantly more as travel restrictions were in place due to the coronavirus pandemic.
West Coast
The West Coast region continues to have the most expensive pump prices in the nation with every state in the region except Arizona in the top 10.
| Rank | Region | Price on 8/3/21 | ||
| 1 | California | $4.38 | ||
| 2 | Hawaii | $4.09 | ||
| 3 | Nevada | $4.02 | ||
| 4 | Utah | $3.88 | ||
| 5 | Washington | $3.86 | ||
| 6 | Idaho | $3.80 | ||
| 7 | Oregon | $3.74 | ||
| 8 | Alaska | $3.66 | ||
| 9 | Colorado | $3.59 | ||
| 10 | Wyoming | $3.55 |
California is the most expensive state for the 28th week in a row with Hawaii and Nevada rounding out the top three. Washington is fifth, Oregon is seventh, Alaska is eighth and Arizona is 21st. Oregon is seventh for the second week in a row.
All seven states in the West Coast region are among the 34 states in the country, along with D.C., that have averages above $3 a gallon.
Like most other states, the states in the West Coast region are seeing small to moderate changes in pump prices this week. Nevada (+6 cents) has the largest weekly increase in the region and the country. Arizona (+3/10ths of a cent) has the smallest week-over-week increase.
The refinery utilization rate has held steady in the West Coast region this week at about 85%. The rate has been between 87% and 88% much of the summer after remaining between about 82% and 84% this spring.
According to EIA’s latest weekly report, total gas stocks in the region rose from 29.67 million bbl to 30.02 million bbl last week. This may help moderate pump prices in the region this week.
Oil market dynamics
A weaker dollar helped to push crude prices higher last week, while market concerns surrounding demand recovery continued to grow. Crude prices were also bolstered after the Energy Information Administration’s (EIA) latest report showed that total domestic crude stocks declined by 4.1 million bbl to 435.6 million bbl. For this week, crude prices could climb higher if EIA’s next weekly report shows another decline in total domestic crude supply.
At the close of Friday’s formal trading session, WTI increased by 33 cents to settle at $73.95. At the close of Monday’s formal trading session, WTI fell $2.69 to settle at $71.26. Today crude is trading around $71, compared to $71 a week ago. Crude prices are about $31 more than a year ago.
Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
