PORTLAND, Ore. (KOIN) — Gas prices are surging nationwide, but Oregon and Washington are among the states with the highest prices.
Over the weekend, a barrel of oil topped $70 for the first time since November 2014. AAA reports the national average for a gallon of gas on Monday was $2.813.
AAA reports drivers are paying $3.232 per gallon in Oregon, which is 50 cents higher than 2017, and $3.322 in Washington.
“This is going to be an expensive year for gas prices,” Marie Dodds with Oregon’s AAA said. “We don’t have the distribution, so it costs more to get the product here. The other thing to keep in mind is California gas has to meet the highest environmental standards in the country.”
Despite the higher prices for gas, AAA said it hasn’t yet impacted people’s plans to drive this summer. According to the company, if gas prices are an issue, vacationers will find savings in other areas to offset the higher prices like shortening their trip or finding a cheaper hotel.
AAA said it’s possible prices could rise anywhere from 5 to 15 cents by the end of May before leveling off for the bulk of the summer driving season.
According to the national price tracker GasBuddy.com, the 10 lowest prices for gas in Oregon and Washington are in smaller areas, ranging between $2.82 and $2.93
US oil prices top $70 a barrel for the first time since 2014
DALLAS (AP) — U.S. oil prices crashed through the $70-a-barrel mark for the first time since late 2014, foreshadowing costlier gasoline and consumer goods.
It’s not clear that pricey crude will slow down the economy, however. The stock market moved higher in midday trading Monday, as investors bet that companies and consumers can cope with the increase.
Benchmark U.S. crude is up 74 cents, more than 1 percent, to $70.46 a barrel on the futures market in New York. The international standard, Brent crude, is up again, to nearly $76.
Analysts are citing concern that Iranian oil exports will fall if the U.S. withdraws from a 2015 deal that eased sanctions on Iran in exchange for limits on its nuclear program. And U.S. stockpiles of crude are down.
— DAVID KOENIG , AP Business Writer