MEDFORD, Ore. — Analysts are concerned the national average price for a gallon of gas could reach $5.00. Prices nationwide have been soaring for more than 30 consecutive days now and expert say they’ll continue to rise.
Experts say it’s a rare occurrence but right now, Oregon is actually below the national average, but that’s not saying much. In a month, local prices have gone up more than forty cents. Nationally, prices have gone up fifty cents in a month, the biggest spike from month-to-month since 2009.
AAA experts say right now a lot of people are looking to get out and enjoy the warmer temperatures and travel, which impacts the price of gas. Also, a refinery in El Segundo, California had some unexpected maintenance issues backing up supply regionally, but mostly experts attribute the recent increase in prices to the stock market.
“People are betting on the prices to go up and the result is that it has. There’s no international turmoil like we’ve had in recent years, there’s nothing in trading that tells us something should be happening, it’s just simply a bet that somebody’s placed and right now it’s going up,” explained AAA Oregon/Idaho Matthew Conde.
In Los Angeles, drivers are dealing with prices more than $5.00 a gallon and it’s the same story in Hawaii, but AAA experts say they don’t have any data showing we’ll reach five dollars in Oregon. In Medford, the average price per gallon is three seventy three. In Ashland the average price per gallon is three eighty one. If you want to keep an eye on local prices you can track it here.