Gas prices have been finally falling along the west coast including the Willamette Valley, except for Lincoln County. Lincoln County gas prices remain above the four dollar a gallon mark while prices in Albany, Corvallis and Eugene have fallen dramatically this week. While the average price of a gallon of regular gas in Lincoln County ran $4.05 in Newport, $3.97 in Waldport and $4.01 in Lincoln City, the same gas in Albany sold for $3.44 a gallon.
Two weeks ago Oregon’s congressional delegation called on the Federal Trade Commission to investigate allegations that the stubbornly high and long rise in prices was nothing more than market manipulation by the oil companies. Critics charged that while there were warnings from the oil companies that routine maintenance and a fire at a Bellingham refinery would cause a spike in prices, industry experts claimed the disruption in gas supplies should have been minimal; certainly nothing of such a magnitude that prices would have to rise as high and for as long as they were. It was estimated that the oil companies were extracting an extra $50 Million dollars a day more than what they should have earned on their sales to Oregon and Washington motorists. It was much more than that per day in California.
One frustrated motorist told News Lincoln County, “We need to get a Fred Meyer gas station in Newport. Florence once had high gas prices just like us, but they got Fred Meyer to come to town and prices dropped overnight and stayed there.”
A gallon of regular gas at the Florence Fred Meyer today was going for $3.69 a gallon, a full 40-cents less than in Newport. On another note, oil is selling on the world market for just over $80 a barrel. In the past, that price point produced gasoline for far less than what motorists pay today.
For the latest gas prices around Oregon just click on the “Oregon Gas Prices” picture found in either column of the website.