Oregon Public Broadcasting

Oregon’s gas prices seem to be defying gravity -- going up despite the lowest crude prices in four years. Kristian Foden-Vencil reports.

The price of a barrel of crude oil hovers around $40. That was last true in 2005, when the cost of a gallon of unleaded was about $1.75.

Prices now are much higher, however, at about $1.85 nationally, and almost $2 in Oregon.

Marie Dodds, of AAA of Oregon, says it’s confusing.

Marie Dobbs: “With crude prices not rising, there really doesn’t seem to be any rhyme or reason as to why gas prices continue to go up.”

Possibilities for the increases include: futures trading; OPEC’s decision to cut production; even station owners taking a larger cut.

Home heating oil prices are also only up slightly and natural gas futures are at their lowest level in two years.