Major Arab oil producing countries have locked horns with American oil companies over long term gas prices. So the Arabs are keeping their oil production levels up to call the American’s bluff. But it means that oil prices will likely come down even further which could allow prices in Lincoln County to fall under $3 a gallon.
That’s welcome news for a lot of low income Lincoln County residents who are penalized the most by having to pay higher gas prices strictly because of where they live. Right now Lincoln County residents pay 35 to 50 cents more a gallon than just about anywhere else in Oregon. State authorities still maintain that nobody’s gouging anyone. It’s “just the market” they say.
Here’s more in the Oregonian on the gasoline roller coaster we’ve been on lately. Click here.