Oregon Fuel Price Variance
Fuel Market News
The first week of January brought lower fuel prices for wholesale buyers. Wholesale fuel prices dropped $0.10 for gasoline and $0.07 for diesel, while the retail market was mostly unchanged, dropping just $0.01 for both gas and diesel. Prices should remain at these levels for the foreseeable future, as crude oil is still hovering just above $70/barrel with no major production cuts being announced for the months ahead.
Reasons For Lower Prices:
- Oil prices under $71, currently $70/barrel
- Winter Fuel Blend
Crude oil is trading below $73 for the fourth straight week at a current price of $70.49/barrel. $0.04 lower than it was last week, as trends continue downwards. A major factor in why fuel prices have continued to drop.
Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading around $72 per barrel compared to $74 last week and $91 a year ago.
It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above in addition to other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, it is advisable to consult local news outlets, government energy agencies, or industry reports.
If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.
It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above in addition to other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, it is advisable to consult local news outlets, government energy agencies, or industry reports.
If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.