The attack on an oil facility in Saudi Arabia that pushed oil prices higher by as much as 10% last month is no longer top of mind for investors, which means China and a lack of a trade deal, has regained the top spot.  And because of that oil prices have dropped; as of Monday morning, West Texas Crude prices were trading around $54 a barrel, which is actually lower than the price recorded before the Saudi attack.

 

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Patrick DeHaan with Gasbuddy.com said the lack of a trade deal, and the likelihood we won’t see a deal until 2020 at the earliest is weighing on both the American and Chinese economies.

 

“And so the longer that we go the more entrenched both sides become the more risk of a slowdown there is.  More tariffs will limit both countries ability to trade.  And it will cost consumers more thus also killing off any discretionary spending and discretionary income that they have.”

 

Despite the drop in oil prices, diesel prices have not moved lower.  The national average for a gallon of diesel held at $3.01 this week, Washington’s rate increased one cent to $3.28 a gallon, while Oregon price for a gallon of diesel was unchanged at $3.15.

 

As far as the lowest local prices we could find:

  • $3.09 a gallon in the Tri-Cities
  • $3.01 a gallon in Wenatchee
  • $3.19 a gallon in Ephrata
  • $2.99 a gallon in Quincy
  • $3.15 a gallon in Moses Lake
  • $2.93 a gallon in Pendleton
  • $3.29 a gallon in Walla Walla
  • $3.05 a gallon in Yakima

 

 

 

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