Thanks to pressure from China, oil prices are trading slightly lower this week.  According to Patrick DeHaan with Gasbuddy.com, West Texas Crude was trading below $50 per barrel, Monday morning.  DeHaan said for the past year plus, China has dictated where oil prices went; first during the trade war with the U.S., now because of the coronavirus.

 

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“Now its pressuring oil prices lower as a result of a big hit to oil demand," DeHaan noted.  "In the world’s second largest oil consuming nation.  A lot of that is because China is basically on lockdown, business shutdown, schools shut down, people are staying home and that has really stifled demand in China, and that’s pushed oil prices lower, to the point that OPEC is even mulling over cutting production.”

 

DeHaan said while the downward movement in oil prices has resulted in lower fuel prices across much of the U.S., the Northwest is not enough that as much, thanks to ongoing refinery issues up and down the west coast.

 

The national average for a gallon of diesel dropped four cents in the past week to $2.90, Washington’s average slipped two cents to $3.29 a gallon, Oregon’s average fell just under three cents to $3.18 a gallon, while Idaho’s average dropped four cents to $3.11 a gallon.

 

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

  • $2.91 a gallon in the Tri-Cities
  • $3.03 a gallon in Wenatchee
  • $2.99 a gallon in Pullman/Moscow
  • $2.95 a gallon in Lewiston/Clarkston
  • $2.89 a gallon in Quincy
  • $3.09 a gallon in Moses Lake
  • $3.07 a gallon in Pendleton
  • $3.19 a gallon in Walla Walla
  • $2.99 a gallon in Yakima

 

 

 

 

 

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