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Gas prices drop below national average
Wednesday, January 30, 2008 | No comments posted.
PORTLAND (AP) — Oregon drivers are paying less than the national average for a gallon of gasoline.
The national average dropped to $2.98 this week, while Oregon’s average fell to just under $2.95, said Marie Dodds, a AAA Oregon spokeswoman.
It’s the first time in five weeks that the national average has been below $3. Oregon’s price is at its lowest since mid-October, though it’s still 46 cents higher than at this time last year.
Dodds said many analysts see a further drop because of increases in U.S. oil inventories, but that could be negated if the Federal Reserve does the expected and cuts interest rates today. Such a cut would likely weaken the dollar against other major currencies.
The national average dropped to $2.98 this week, while Oregon’s average fell to just under $2.95, said Marie Dodds, a AAA Oregon spokeswoman.
It’s the first time in five weeks that the national average has been below $3. Oregon’s price is at its lowest since mid-October, though it’s still 46 cents higher than at this time last year.
Dodds said many analysts see a further drop because of increases in U.S. oil inventories, but that could be negated if the Federal Reserve does the expected and cuts interest rates today. Such a cut would likely weaken the dollar against other major currencies.
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