Mixed News On COVID Front Keeping Oil Prices Flat

Oil prices have moved lower over the past week, but you wouldn’t know it if you looked at fuel prices across the Northwest. Patrick DeHaan with GasBuddy said the prices we’re paying at the pump continued to move higher this week, even though the national average moved lower. The reason for the national average moving down was thanks to oil prices that snapped a multiweek trends of increases.

DeHaan noted oil prices flattened this week, because of new lockdowns issued in Europe. He added looking to the months ahead, oil prices will be determined by COVID case counts in the U.S. and internationally.

“For now, I think the next couple of weeks may see little change in oil prices largely because of the slowdown in Europe due to lockdowns.  But as we progress into April and May, as we begin transitioning to more expensive summer gasoline, I would expect most petroleum, oil, gasoline desilts to increase more so in April and May.”

Currently, the national average for a gallon of diesel is sitting at $3.11, washignton’s average increased five cents to $3.29 a gallon, Oregon’s average increased four cents to $3.18, while Idaho’s price jumped eight cents this week to $3.38.

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