International Tensions Continue To Push Oil Prices Higher

While winter is typically the time of year we see oil and fuel prices move lower, this year, prices are holding steady or in some cases moving higher.

Patrick DeHaan with GasBuddy.com says oil prices continue to hover around recent highs of $55 per barrel.

DeHaan says several international issues, including unrest in Venezuela, trade talks with China, and OPEC are keeping oil prices elevated.

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“When it comes to oil production, not only is OPEC continuing to keep the rope right on production, but Russia has gone along with that. So, in the back drop, some of the world’s biggest oil producers, with the exception of the U.S., of course, have cut back on production, and that’s likely why we’re continuing to see oil prices slowly drift higher.”

DeHaan noted the ten weeks, following Valentine’s Day, we typically see oil pirces, and in turn fuel prices move higher.

As far as the current diesel prices are concerned, the national average held steady in the past week at $2.92 a gallon, while Oregon’s rate dropped one cent to $3.14 a gallon, while Washington’s price for diesel fell three cents to $3.22 a gallon.

As far as local diesel prices are concerned: