Fuel Market Report

Fuel prices jumped across the board this week with both wholesale and retail seeing price bumps of $0.10/gal or more. Rack averages in Portland jumped $0.14/gal for gasoline and $0.02/gal for diesel. The retail average for Portland increased $0.13/gal for gasoline and $0.02/gal for diesel. The national retail average also jumped $0.04/gal on gasoline. President Trump announced last week that he would halt tariffs on Mexico and Canada for 30 days but not be doing the same for China.  Yet this week he announced they are back on the table with a 25% tariff on steel and a 10% tariff on aluminum from both Canada and Mexico. This will likely cause an immediate rise in crude oil prices as steel and aluminum are used throughout crude oil infrastructure.

Oregonians may be in store for higher diesel prices this year with the end of Blenders Tax Credits, the introduction of the Producers Tax Credit & the Oregon Climate Protection Program going into 2025. For more on this report visit the link below.

2025 Fuel Market Outlook: Oregon

Fuel prices experienced a mix of fluctuations this past week as gas prices rose and diesel prices fell. Rack average in Portland jumped $0.06/gal for E10 and fell $0.12/gal for B5 and $0.06/gal for B20. From current market outlooks, we should see gas prices continue to climb this week. There is also skepticism of oil pricing spikes this month with President Trump’s tariff battles. We have already seen this with Canadian crude as tariffs have made it more expensive for U.S. refiners causing a competitive edge for European and Asian refiners. Canada is the largest supplier of heavy crude to American refiners with nearly 4 million barrels/day.

Oregonians may be in store for higher diesel prices this year with the end of Blenders Tax Credits, the introduction of the Producers Tax Credit & the Oregon Climate Protection Program going into 2025. For more on this report visit the link below.

2025 Fuel Market Outlook: Oregon

Fuel prices trickled up this past week as rack averages in Portland for gas and diesel increased. Rack averages for E10 jumped $0.03/gal while diesel jumped $0.02/gal. It was a fairly mild week of price fluctuations after the market had been very volatile since the start of the new year. This is partially due to oil prices jumping over $80 last week with prices above $75 most of January. Fortunately, prices are back down to about $73 this week.

There is much left to the unknown within the energy industry with the new administration and sweeping executive orders. A few things that may be changing soon are: tax credits, CAR (Cap at Rack), Climate Commitment Acts, and environmental protections within the industry. Each of these pillars has a unique impact on the industries within each state. The first 90 days of the new administration will have a significant impact on the future of our industry.

Oregonians may be in store for higher diesel prices this year with the end of Blenders Tax Credits, the introduction of the Producers Tax Credit & the Oregon Climate Protection Program going into 2025. For more on this report visit the link below.

2025 Fuel Market Outlook: Oregon

Fuel prices jumped this past week with rack averages up on gas and diesel. Rack averages in Portland jumped $0.10/gal for E10 (unleaded gasoline) and $0.20/gal for B5 & B20 (diesel). Since Jan 1st prices have jumped $0.20/gal on diesel and $0.15/gal on gas. Jan 20th marks the beginning of Donald Trump’s second term as President which will likely be very eventful over the next 90 days. There are hopes of deregulation within the fuel/energy sector that may bring down costs but most all of this is unpredictable. Crude oil soared to its highest price in five months last week while prices at the pump were relatively stable. These price hikes come on the tail of new US sanctions on Russian oil.  

 Oregonians may be in store for higher diesel prices this year with the end of Blenders Tax Credits, the introduction of the Producers Tax Credit & the Oregon Climate Protection Program going into 2025. For more on this report visit the link below.

2025 Fuel Market Outlook: Oregon

Fuel prices have remained relatively low as we begin the new year. Between Christmas week and New Year’s, many professionals were on leave and/or out of the office which led to very minimal price variances across the board. Rack averages in Portland have varied between $0.10 to $0.05/gal settling a few cents off from their listed price to end December. Oregonians may be in store for higher diesel prices this year with the end of Blenders Tax Credits, the introduction of the Producers Tax Credit & the Oregon Climate Protection Program going into 2025. For more on this report visit the link below.

2025 Fuel Market Outlook: Oregon

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 Thanksgiving holiday week comes time off for much of corporate America. Most people took off time for travel and family gatherings. Due to this, there was not much movement in the market after Wednesday of last week. Rack averages for diesel did not move more than a penny and gasoline jumped by $0.03/gal. Retail prices also did not have much fluctuation as they only moved about $0.01/gal. Gas prices should trickle down this week as we roll into the winter season this month starting Dec 21st.

Fuel prices jumped this past week with most of the price variance affecting E10 gasoline. On the 19th the rack average for E10 in Portland jumped $0.12 in one day and continued to climb later into the week. The reasons for this are unknown as there were no refinery shutdowns or supply bottlenecks in the past week. Diesel prices were mostly unchanged with price variances below $0.05/gal for B5 & B20. AAA predicts record travel trends for the Thanksgiving holiday this season, which may contribute to higher fuel prices over the rest of the week.  

Fuel prices dropped this past week with E10, B5 & B20 all down at least $0.09/gal. This marks the lowest average gas price in Oregon this year down $0.59/gal from a year ago today. These downward price shifts are a good sign for the region, which has higher fuel prices than nearly every other state. These trends should continue into the winter months as fuel prices have been relatively low for the last 3 months. There are some concerns of another hurricane ripping through the Gulf Coast which would affect oil production and distribution throughout the country but this is ultimately an unknown factor. Hurricane season typically goes from June through November and current reports do not show any natural disasters in the Gulf Region anytime soon.  

Fuel price changes were minimal this past week as E10, B5 & B20 moved a penny or less per gal on their rack average price. Retail prices saw similar movement as most prices stayed the same or moved by a penny or less. Crude oil prices dropped this past week as well keeping fuel prices low. Gas prices are about $0.30/gal lower than a year ago today.

President-Elect Donald Trump has already announced some of his key focuses for his first 100 days in office with US oil and gas production being one of his main talking points. The United States produced more oil and gas than ever before in history this year, although most production is being sold internationally. Time will tell how effective the proposed policies will be on the overall price of energy domestically.