DeHaan: Distillate Inventories Up Pushing Pump Prices Slightly Lower

Oil prices rebounded over the week, selling in the low $40-per barrel range. However, with Monday’s sell off oil prices moved lower as well, dropping roughly two dollars. Patrick DeHaan with Gas Buddy said at this point, the biggest issue driving oil prices, is the broad indicators, where they go, oil prices go.

“The Dow Jones traded [Monday] at one point down 800 points, so oil prices really following what’s going on in the broader market.  With summer driving season now over we do have a little bit of pessimism on the price of oil demand is set to drop.”

DeHaan added gas inventories are flat compared to 2019 numbers, but Distillate inventories up roughly 30% year over year, which is pushing diesel prices across the Northwest lower. The national average for a gallon of diesel fell two cents to $2.39 this week, while Washington’s average dropped one cent to $2.72, Idaho’s and Oregon’s diesel prices held steady this week, coming in at $2.39 at $2.60 per gallon respectively.

As far as those local diesel prices are concerned:

• $2.29 a gallon in the Tri-Cites
• $2.46 a gallon in Wenatchee
• $2.49 a gallon in Pullman
• $2.28 a gallon in Lewiston
• $2.29 a gallon in Moses Lake
• $2.25 a gallon in Pendleton
• $2.89 a gallon in Walla Walla
• $2.35 a gallon in Yakima

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