fuel trends

Gas prices dipped slightly, and diesel prices saw significant price jumps this past week. Rack averages in Portland were down $0.03/gal while diesel prices were up over $0.10/gal on B5, B20, and R99. Renewable diesel prices dipped significantly this month, with prices as low as $2.50/gal. The Portland market’s need for Renewable Diesel will continue to be high in demand as the 2026 RFS deadline approaches, with diesel blends increasing to B50 blends. Questions of supply remain unclear, with Neste pulling out of the market in early 2025. Much remains unknown about the future supply of diesel in Oregon. Demand will be very high, and supply will need to be strong to support this. Where the supply comes from remains unknown for most. The winter blend of gas and diesel will soon be back on the market as we roll into September next week. This may create an initial increase in prices, with pricing dips following into October/November. Oil prices have remained slightly below $65/barrel. OPEC+ has announced a production boost headed into September, which may lead to crude oil prices below $60/barrel into the fall/winter. 

Diesel prices are down significantly and gas prices have hovered around the same price range for the wholesale rack average market. These prices have had little impact at the street pump price level so drivers are not seeing as much of a difference as distributors. Diesel prices have dropped over $0.20/gal since the beginning of August while gas prices have hovered around the $3.90/$4.00 range. Gas prices should remain around this level in coming weeks with a slight uptick in late September when the winter blend of fuel begins to hit the market and then a further downtick in gas prices both wholesale and retail. Drivers can expect to see lower gas prices October 1st than today. The summer was a very mild one for hurricanes as the South experience next to no distributions in production due to natural disasters. This could change this week with Hurricane Erin reaching a category 4 and headed to the east coast and Florida region.

Fuel prices trickled down this week with both gas and diesel prices dropping. Although the drops were very marginal, with gas prices down $0.02/gal and diesel prices down less than $0.05/gal. Rack averages in Portland saw a steeper drop-off while retail street prices hardly budged. Fuel prices should remain steady in the coming weeks as political climates in the Middle East have toned down and hurricane season has been very quiet for the southern states. Historically, fuel prices have been higher around this time of year with summer travel and increased demand for fuel. Yet surprisingly, fuel prices were at the exact same level in Portland a year ago today. Iran has agreed to new nuclear talks amid the tensions in the Middle East. On July 22nd Britan, France, Germany and Iran will hold talks to re-engage this discussion.

Fuel prices trickled up this week, with street retail prices dropping slightly and rack averages going up about $0.05/gal. Portland rack averages for gas jumped $0.07/gal, while B5, B20 & R99 diesel averages moved up less than $0.03/gal. AAA analysts predict prices at the pump will continue to fall as tensions calm in the Middle East and no hurricanes are expected to hit the Golf Coast in the coming weeks. According to the EIA, “Gasoline production dipped last week, averaging 9.6 million barrels per day, compared to 10.1 million barrels the previous week”. Although this dip may not seem extreme, it is surprising coming off a record-setting 4th of July with traveling trends reaching all-time highs. With inventories relatively steady, we should see prices at the pump hover around their current price with some slight dips into August.

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

The past week brought a mix of pricing fluctuation, with gas prices down and diesel prices up. Rack averages in Portland dipped $0.05/gal for gasoline and jumped $0.02/gal for diesel. Smaller price fluctuations than weeks past, as the market is still balancing the heightened political climate in the Middle East, with much remaining uncertain for the weeks ahead. Crude oil is hovering just below $70/barrel at a current rate of $68.00/WTI Crude, and is expected to remain at this level in the weeks ahead. Retail fuel prices are still high in Oregon and Washington, with most retail stations in Portland averaging around $4.15/gal. The 4th of July brought an increase of 1.7 million drivers traveling, which is up 2.4% from last year.

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

The past week brought downward price fluctuations as oil prices dipped and rack averages dropped. Rack averages in Portland were $0.10/gal lower than the week prior across the board for both gas and diesel. The retail street price did not see these dips, as the Oregon retail average remained high around $4.15 and closer to $4.20 in the greater Portland area. After the heightened tensions and missile strikes on Iran, many analysts expected the market to skyrocket for crude oil prices, while the opposite occurred. Crude oil prices peaked at $74/barrel on June 20th and have since dropped below $65 as of the 30th.

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

The past week brought in more upward price fluctuation following the escalated tensions in the Middle East involving Israel, Iran, and the U.S. Crude oil jumped up to $77/barrel on Thursday but has since trickled back down below $70 as of Monday. Rack averages in Portland jumped $0.17/gal on gas, $0.27/gal on B5 diesel, $0.26/gal on B20 diesel & $0.23/gal on R99 Renewable diesel. The largest price hikes we’ve seen all year for a single week. The U.S coordinated bomb strikes on Iran on Sunday, June 22nd, which were followed by Iran attacking US bases in Qatar, while not officially announced, these are both signs of a new war beginning between the US & Iran. What this could mean for crude oil and commodity pricing is unknown, but it is assumed that crude oil will begin a sharp climb in price in the weeks to follow.

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 are up across the board this past week following heightened tensions in the Middle East. Crude oil jumped $4/barrel on 06/13 following Israel’s bomb strikes on Iran’s nuclear facilities. This ongoing conflict has led to significant pricing fluctuations on crude oil, while also leaving many uncertain about what is next and how Iran will respond. Rack averages in Portland jumped $0.13/gal on gasoline, $0.11/gal on B5 diesel, $0.13/gal on B20 diesel, & $0.10/gal on R99 Renewable diesel. These price jumps come as no surprise after the significant jump in crude oil prices over the last week. We are entering the busy summer traveling season, which means more cars on the road and more people traveling over weekends. Expect both gas and diesel prices to remain near their current price levels as summer fuel prices are always a bit higher than the rest of the year.

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

Diesel prices are up and gas is down slightly this past week, as fuel prices experience another week of mixed volatility.  As we roll into June and the summer driving season, we can expect demand to stay high while supply may decline. Crude oil is trading just about $65 at a current price of $65.36/barrel on WTI Crude. The EU and the Trump administration are planning to impose new sanctions on Russia, including a $45/barrel price cap on Russian Oil, targeting the shadow oil fleet, LNG projects, and energy industry firms. These sanctions, along with production announcements from OPEC+, may lead to a much different Crude supply within the market. Some analysts are predicting $50/barrel Crude this year.

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 price fluctuation this past week as rack averages for gas, R99, and B20 were down while B5 was up. Rack averages in Portland for E10 dipped $0.11/gal along with R99 and B20 dropping $0.06/gal, while B5 jumped $0.07/gal. This was the first time in three weeks that prices dropped on any products. Crude oil is still hovering around $60/barrel, and fuel prices are poised to see upward price fluctuation in summer months with the summer driving season upon us, increased demand, and summer fuel blends in full supply.

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