Coronavirus Continues to Hold Oil Prices Low

Thanks to fears and uncertainty surrounding the coronavirus, oil prices are trading at the lowest levels we’ve seen in the past 12 months.  As of Monday, prices for West Texas Crude were trading around $52 per barrel.  And while that figure was up slightly, its part of a larger trend, pushing oil prices lower since the world first caught wind of the health problems in China.

What impact are those lower oil prices having on your local pump prices?

The national average for a gallon of diesel doped two cents this week, down to $2.88, Washington’s average also dropped two cents to $3.27, Oregon’s average decreased two cents, down to $3.16.  The big change came in Idaho, where diesel prices fell six cents a gallon to $3.05.

As far as the lowest prices in your community are concerned:

• $2.89 a gallon in the Tri-Cities
• $2.97 a gallon in Wenatchee
• $2.99 a gallon in Pullman/Moscow
• $2.92 a gallon in Lewiston/Clarkston
• $2.89 a gallon in Quincy
• $3.19 a gallon in Moses Lake
• $3.07 a gallon in Pendleton
• $3.16 a gallon in Walla Walla
• $2.85 a gallon in Yakima

Oil prices currently as so low, that some investors are speculating this could restart many fracking operations in the Dakotas and southern Canada.

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com