Portland

Fuel prices rose this week, as prices are up on both gas and diesel. Rack averages in Portland for E10 gasoline jumped $0.07/gal, while diesel jumped $0.05/gal. Just as fuel prices hit their annual lows, the Olympic Pipeline reported leaks near Everett, Washington, which caused BP to shut down sections of the pipeline. This will likely put a bottleneck on the supply of gas and diesel throughout the PNW, as prices will likely jump significantly over the next few days and continue to remain high for the following weeks. This comes at a less-than-ideal time for commuters, as fuel prices were expected to remain low rolling into December and the holiday season. With Thanksgiving approaching next week, the demand for fuel will continue to rise as the supply experiences temporary bottlenecks.  

Fuel prices dropped across the board this week, with gas and diesel prices down. It was the first week in 2 months where wholesale prices dropped while retail prices increased. Wholesale rack averages dropped $0.03/gal for E10 gasoline, and over $0.15/gal for B5 & B20 diesel. The government shutdown has seemingly come to an end with a vote from the Senate last night to continue funding and operating the government. This has calmed many worries within the market as the shutdown was the longest recorded in history.  With the government back in session, we may see prices continue to fall as fears of a continued shutdown are fading within the market. Crude Oil prices are hovering just about $60/barrel for WITI crude, as prices have risen slightly over the last two weeks.

Fuel prices varied this week as gas prices dropped, and diesel prices did not move. Rack averages for E10 in Portland dropped $0.02/gal, while rack averages for diesel did not change. This is the third week in a row that gas prices have dropped, signally the seasonal trend of fuel prices reaching their lowest price points of the year. Prices should continue to taper off and drop slightly week to week, as demand is lower during this time of year. Crude Oil is floating just above $60/barrel, which has contributed to lower fuel prices across the PNW and most of the nation. Recent sanctions on Russian Oil from the UK and the U.S. have put a dent in Russia’s Crude deliveries across China, India & Turkey, as Russia struggles to find buyers for their crude volumes.

Fuel prices varied this past week as gas prices dropped and diesel prices jumped slightly. Rack averages decreased $0.07/gal for E10 gasoline, and increased $0.01/gal on B5, B20 & R99 diesel blends. This is the first time in four weeks that both the rack averages and retail averages drop in the same week, as the retail average for gasoline also dropped $0.04/gal. Gas prices should continue to fall in the weeks ahead as we continue into the Fall & Winter season and fuel prices hit their lowest price levels for the year. Crude Oil prices jumped back to over $60/barrel after hitting their lowest price in three years at $57.29/barrel last week. 

Fuel prices are down across the board this past week, as expected with winter fuel blend on the market and oil prices reaching their lowest price point of the year. Rack averages dropped $0.14/gal for gasoline and $0.08/gal for both B5 & B20 diesel. Fuel prices should continue to fall in coming weeks as oil prices are at the lowest price since 2021. Retail prices for fuel in Portland have not dropped much compared to rack averages but this should change in coming weeks as we roll into autumn and winter in the coming weeks. The refinery fires at Chevron’s El Segundo refinery put a temporary bottleneck on supply and prices in previous weeks but have since been resolved as prices continue to fall.

Fuel prices varied this past week as gas prices increased slightly and diesel prices dipped. Gas prices increased by $0.13/gal on the rack average market and dropped $0.06/gal on the retail street market. Diesel prices dropped $0.10/gal across the board for rack averages, while the retail street average did not move from the week prior. As mentioned in earlier reports, gas prices should come down in the coming weeks with the winter fuel blend back on the market. Fuel prices typically reach their lowest price level from October to December every year. We can expect the same in the coming weeks. Oil prices are also currently below $62/barrel, which will help contribute to lower prices.

Fuel prices trickled down this past week with both wholesale rack averages and retail street prices down. Rack averages in Portland dropped $0.10/gal on E10 gasoline, and dropped less than $0.02/gal on diesel across the board. This trickled down into the retail market as street prices are down about $0.05/gal in Portland. The Olympic Pipeline is back online and the winter-blend of fuel is coming back to the market. We should see prices continue to come down slightly in the coming weeks as winter fuel hits stations across Oregon. Fuel prices typically reach their lowest levels during late fall/early winter every year so we should see downward pricing in the weeks ahead. For more information on prices, visit our website for weekly updates.

Gas prices have trickled back down this week as the Olympic pipeline has been back online and is supplying throughout the PNW. The past two weeks were filled with a massive price jump in gas, with retail averages above $4.50/gal. We should continue to see these numbers fall back this week. Rack averages for Portland are down $0.49/gal for E10 gasoline, while diesel prices did not move more than $0.01/gal. This is the biggest price drop we have seen for gas in months, but it was expected after the Olympic pipeline was offline. As we roll into October, retail stations will switch back to the winter blend of fuel, which may cause a temporary price spike due to logistics, but will be followed by further price dips throughout the market.

Gas prices skyrocketed this past week while diesel prices remained stagnant. The maintenance shutdown of the Olympic pipeline caused gas prices to increase by over $0.20/gal in just a week. Diesel prices moved $0.005/gal, with next to no movement on diesel prices. Commuters in Portland saw retail gas prices over $4.50/gal during the past week, and prices have yet to come down. The Olympic pipeline is back online this week, with capacities back to normal. We should see prices fall this coming week with the pipeline maintenance complete and the switch to winter fuel approaching.

Fuel prices are up across the board this past week, with both diesel and gas jumping over $0.15/gal. Rack averages in Portland jumped $0.20/gal for E10 gasoline and $0.16/gal for diesel. This comes on the heels of the Olympic pipeline maintenance this past week, after issues arose within the pipeline system requiring un-forecasted maintenance. This directly affects supply throughout the PNW, creating pricing bubbles throughout Washington, Oregon & California. Gas prices are expected to continue to climb this week, with maintenance yet to be fully completed. This will also roll into the switch from Summer blends of fuel to Winter blends of fuel, which will begin in the coming weeks. This may temporarily spike prices, with pricing drops thereafter.