Gas prices fall despite summer travel time
Friday, June 23, 2006 7:27 AM PDT
By Evan Caldwell
Printable version
E-mail this articleAs the Fourth of July holiday looming, the average price per gallon of regular gas in the Longview-Kelso area fell below the $3 mark Thursday for the first time since early May.
Prices could go back up, though.
"The big question mark is, how will people celebrate the July 4 holiday?" AAA Oregon spokesman Elliott Eki said. "Will people observe it as a one-day holiday or will they make a four-day weekend out of it, which would probably drive prices higher."
On Thursday, the average price per gallon of regular gas was $2.997, according to the AAA and other sources that track prices at 33 Longview, Kelso and Rainier stations. Average prices for regular peaked in May at about $3.08 per gallon.
Prices have declined nationally because oil is priced at below $70 a barrel, Eki said.
"We're also seeing the gasoline inventory rebuild," Eki said. "With more and more in storage and available, that, too, will start pushing the price down more."
However, continued political instability worldwide and the fears of hurricane season are clouding long-term price forecasts.
On Thursday, gas in Washington averaged $3.08 per gallon, with prices as high as $3.27 per gallon for regular in Skagit and Whatcom counties. In Oregon, regular gasoline is averaging $3.02. Gas in Troutdale, a Portland suburb, was as low as $2.82 Thursday.
The AAA estimated in May that more Americans would travel this summer than last year despite the high prices, though they'd likely stay closer to home and take shorter vacations.
"So far, we haven't seen people cutting down on summer driving," Eki added. "People just aren't cancelling their vacations."
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