DeHaan: Oil Prices Not Expected To Break Records This Year Despite Tensions With Iran

National oil prices have picked up where they left off in 2019, increasing very slightly. Currently oil prices around trading in the mid-$60 per barrel range. Could we see those fuel prices rocket up in the coming days because of ongoing tensions with Iran?

Patrick DeHaan with Gasbuddy.com doesn’t expect that to happen. He said in recent years, the United States has increased oil production to 13 million barrels per day.

“So essentially in the last decade, the U.S. has added the capacity of a major OPEC member, 7.5 million barrels. So, that insulates us from these types of events and even if the ‘worst case’ does come true, I do not for see records being shattered at all across the U.S. in the year ahead.”

As we start the New Year, diesel prices are holding steady.

This week, the national average increased one cent to $3.01 a gallon, Washington’s average held at $3.38 a gallon, Oregon’s statewide averaged dipped two cents to $3.26 a gallon, while Idaho’s price was unchanged at $3.28 a gallon.

Here are the lowest local diesel prices we could find: