Drivers are getting a break at the pumps as gas and diesel prices move lower. The major drivers are cheaper winter-blend fuel, refinery maintenance winding down, and the seasonal decline in gasoline demand. Crude oil prices have fallen back below $100 but it’s too soon to say if oil prices will remain lower. For the week, the national average for regular gasoline tumbles 12 cents to $4.15 a gallon. The Oregon average loses eight cents to $4.77 a gallon.
The national average prices for regular gas and diesel are at their highest ever on a Congressional Election Day at $4.15 and $6.29, respectively. The previous highs were in 2022 when the national average price for gas was $3.80 and diesel was $5.35 on election day, which was Nov. 8.
The Oregon average price for regular gas is at its second-highest price ever on a Congressional Election Day at $4.77 compared to $4.83 on November 8, 2022. The Oregon average price for diesel is at its highest ever on a Congressional Election Day at $6.71, compared to the previous record of $5.56 on Nov. 8, 2022. Pump prices on the West Coast soared in the fall of 2022, after several refineries in the region underwent planned or unplanned maintenance, creating a huge drop in supplies.
“Filling up is packing less of a punch to family budgets as fuel prices fall. But crude oil prices remain elevated, so there’s a limit on how low fuel prices can go,” says Marie Dodds, public affairs director for AAA Oregon/Idaho.
Gas prices are significantly more expensive than they were before the conflict with Iran began. The National average for regular gas was $2.98 and Oregon average was $3.92 on Feb. 28, the day the U.S. and Israel launched airstrikes against Iran.
Crude oil prices remain volatile, with dramatic swings driven by concerns of how the conflict with Iran impacts global oil supplies. Since the conflict with Iran started, prices for West Texas Intermediate, the U.S. benchmark for crude, have ranged between $68 and nearly $113 per barrel. Crude was at $67 per barrel on Feb. 27, the day before the conflict began.
In general, every $1 increase in the price of crude oil leads to a 2.4- to 2.5-cent increase in the price of gasoline.
October had the highest number of commercial shipping attacks in the Strait of Hormuz and surrounding waterways since the U.S.-Israeli conflict with Iran began in late February. Normally, about 20% of the world’s oil and refined products flow through the Strait of Hormuz, which is the narrow passageway of the Persian Gulf and is bordered by Iran. Tankers traveling through the Strait of Hormuz carry oil from major producers in the Middle East including Saudi Arabia, Kuwait, Bahrain, UAE, Qatar, Iraq and Iran. Any disruption in the straight can impact global oil supplies and send crude oil prices higher.
The Oregon average for regular gas began 2026 at $3.42 a gallon. The highest price of the year so far is $5.353 on May 20. The lowest price of the year so far is $3.33 on January 20. The record high for the Oregon average is $5.548 set on June 15, 2022.
The Washington average for regular gas began 2026 at $3.86 a gallon. The highest price of the year so far is $5.789 on May 20, which is the record high for Washington. The lowest price of the year so far is $3.79 on January 14.