Middle East Center Of Oil Conversations

Oil prices have shown very little movement over the past week, hovering around $53 per barrel for West Texas Crude.  The lack of movement is atypical for this time of year.  Patrick DeHaan with GasBuddy.com said traditionally oil prices drop as we transition into the heart of fall, and thanks to the ongoing trade war with China, oil prices could move down even more.  However, DeHaan was quick to note some of the biggest uncertainty is thanks to unrest in the Middle East.

 

“Iran continues to attack oil, in one form or another.  From seizing oil tankers to being suspected behind attacks on Saudi Arabia.  So, that could be a bullish influence.”

 

DeHaan said adding to the uncertainty, the Administration’s announcement this weekend that U.S. troops will pull out of Syria.  DeHaan added because of oil prices, we have seen lower diesel prices across much of the country, with the west coast being the notable exception.  The average for a gallon of diesel nationwide slipped one cent this week to $3.00, while Washington’s diesel prices increased one cent to $3.29 a gallon, and Oregon’s rate increased one cent as well to $3.17 a gallon.

Here are some of the lowest prices we could find across the Inland Northwest:

  • $3.09 a gallon in the Tri-Cities
  • $3.03 a gallon in Wenatchee
  • $3.27 a gallon in Ephrata
  • $3.06 a gallon in Quincy
  • $3.08 a gallon in Moses Lake
  • $2.97 a gallon in Pendleton
  • $3.29 a gallon in Walla Walla
  • $3.09 a gallon in Yakima

 

 

 

 

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *