AAA: Oregon gas prices fall to 2012 low

More decline expected

PORTLAND, Ore. - The Oregon average for regular unleaded gas has fallen to its lowest point of the year, $3.37 a gallon, AAA Oregon/Idaho reported Tuesday.

That drops the average below the year's previous low price, which was $3.385 on Jan. 2. 

The Oregon average falls six cents this week to $3.37, while the national average loses a nickel to $3.33.  It is at its lowest point since early July.

For the third week in a row, Oregon's average for regular unleaded is just a few cents more than the national average.  Earlier this fall, the Oregon average was as much as 30 cents a gallon more than the national average.

Oregon's current price of $3.37 is a dime per gallon lower than it was a year ago at $3.47.  But the current national average of $3.33 is a nickel more than it was a year ago at $3.28 and continues the streak of daily record prices for the calendar day that began on August 20.

Pump prices across the country have steadily declined as U.S. demand for gasoline continues to be low and inventories remain high.

The exception is the East Coast, where supplies are increasing but remain somewhat tight following the disruption to distribution following Hurricane Sandy.

AAA continues to predict that the national average for regular unleaded will slowly drop through the end of the year, barring unforeseen events, and average between $3.20 and $3.40 a gallon nationally and in Oregon by New Year's Day.

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