DeHaan Oil Investors Waiting For Stimulus Checks

Coronavirus continues to be the main driver when it comes to oil prices, and what we’re paying at our local diesel station. But maybe not in the way we’ve seen throughout this year. Patrick DeHaan with GasBuddy said investors are eagerly waiting for lawmakers to approve some kind of stimulus package, preferably for individuals, to jump start the economy.

He noted when signs of a stimulus bill are positive, the price of oil goes higher. And when it looks like stimulus talks will be pushed to a later date, prices drop, which is what took place Monday, with West Texas Crude dropping to $38 per barrel.

“Without stimulus, Americans aren’t getting a cash infusion that they perhaps badly need amidst high unemployment figures so that would be pessimistic for oil and gas prices, in the weeks ahead.”

Not surprising, with little movement in D.C., oil price have not moved much nationally, with the national average for a gallon of diesel holding at $2.37, Washington’s diesel prices increasing one cent to $2.70, Idaho’s diesel price held in the past week to $2.33, and Oregon’s rate remained unchanged at $2.57 a gallon.

When looking at local pump prices, these are the lowest rates we could find:

  • $2.37 a gallon in the Tri-Cities
  • $2.29 a gallon in Wenatchee
  • $2.77 a gallon in Pullman
  • $2.28 a gllon in Lewiston
  • $2.39 a gallon in Moses Lake
  • $2.23 a gallon in Pendleton
  • $2.79 a gallon in Walla Walla
  • $2.79 a gallon in Yakima
  • $2.59 a gallon in Omak

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