Saturday, September 20, 2014

Pump prices in Oregon and across the country continue to decline, providing welcome relief to Thanksgiving travelers.  The national average for regular unleaded is at its lowest point since mid-July, while Oregon's is at its lowest point since mid-February.   The national average drops three cents this week to $3.41 while Oregon's statewide average falls 8 cents to $3.52. The last four weeks, Oregon drivers have enjoyed double-digit declines in the price of gas.  Nationally, the retail pump prices have been falling steadily since mid-September.  Drivers in every state except Ohio are paying less at the pump than they were a month ago, when the national average was $3.68 and Oregon's was $3.99.  Only one state, Hawaii, still has gas at or above $4 a gallon, while Missouri is close to the $3 mark at $3.08 a gallon.

The current Oregon average is 14 cents less than the price one year ago, which was $3.66 a gallon.  The national average is still a nickel higher than the year-ago price of $3.36, and the highest price on record for this calendar day.  Today's price continues the streak of daily record prices that began on August 20.

Lower gas prices are helping to spur Thanksgiving travel this year.  AAA forecasts 43.6 million Americans will travel 50 miles or more from home during the Thanksgiving holiday weekend, an increase of 0.7 percent over the 43.3 million people who traveled one year ago. In the Pacific region (Washington, Oregon, California, Alaska and Hawaii), 7.3 million travelers are expected to hit the road for the holiday weekend, an increase of 0.6 percent compared to last year.

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