Fuel Prices Continue Upward Momentum

Oil and fuel prices continue to slowly march higher thanks to both international and domestic issues. According to the latest figures, the national average for a gallon of diesel increased nearly three cents in the past week to $2.97, while Washington’s price increased a more modest one cent to $3.16 a gallon, and Oregon’s price increased one cent in the past week as well to $3.06 a gallon.

Patrick DeHaan with GasBuddy.com told the Washington Ag Network U.S. oil inventories have dropped for the past 10 weeks, and are 16% lower year over year. He said that pressure is due in part to OPEC cutting production, and because of domestic decisions.

“Because U.S. oil exports remain near record levels, so essentially U.S. oil inventories have been draining because oil companies can now export crude oil.”

DeHaan says with current economic trends, oil prices are expected to continue to climb in the coming weeks. He said consumers can help themselves out by visiting multiple gas and diesel stations.

“There has been a dramatic increase in the spread between what stations are charging and in this environment where crude oil prices have continued to climb, the difference in what stations are charging is very high so, as a motorist or as a trucker it is certainly very important to keep shopping around for those lowest prices.”

As far as the lowest local prices are concerned: