Wholesale Price Average 12/14/24
| Wholesale Low | Wholesale Avg | |
|---|---|---|
| E10 | $1.98 | $2.06 |
| B5 | $2.19 | $2.30 |
| B20 | $2.16 | $2.28 |
Average Retail Prices 12/14/24
| National | Oregon | Washington | |
|---|---|---|---|
| E10 | $3.02 | $3.47 | $3.98 |
| B5 | $3.50 | $3.79 | $4.31 |
Taxes
| Federal | State: OR | Local | State: WA | |
|---|---|---|---|---|
| Gas | $0.184 | $0.40 | $0-.13 | $0.494 |
| Diesel | $0.244 | $0.40 | $0-.13 | $0.494 |
Oregon Fuel Price Variance
Fuel Market News
Fuel prices have dropped across multiple products with both gas and diesel down. Rack averages for E10 dropped $0.24/gal while diesel dropped $0.10/gal. The average price of gasoline in Oregon is at its lowest price since June 2021, giving drivers an early holiday gift on the road. Oil prices jumped to over $70/barrel this past week as oil prices went up for the first time in 6 weeks. Domestic crude oil production is again at a record high reaching 13.51 million barrels per day in the week ending Nov 29th. Drivers should expect to see prices continue to fall for fuel prices as we enter into the winter season.
With the winter season approaching, it is a great time to be sure your backup generators are topped off for any extreme weather conditions over the next several weeks.
Get your generators topped off
Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.
Crude oil traded above $70 this past week, for the first time in a month, at a current price of $71.01/barrel. This is $2.99 higher than it was last week. This marks the first time oil prices jumped up in six weeks.
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 at $71.01/barrel compared to $68.02/barrel, last week and $81 a year ago.
Fuel prices result from a complex interplay of the factors mentioned above and 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, use the links below for AAA & GasBuddy.
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.