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After a year of high gas prices, AAA predicts stability in 2023

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Lance Reis
/
Unsplash
A gas station in Portland, Oregon, July 2022.

The winter season typically sees less demand for gas. So what’s driving recent higher gas prices? AAA reports higher crude oil prices are putting upward pressure on what drivers are paying at the pump.

High crude oil prices are a result of global economic concerns fueled by volatile geopolitics. This past year, the war in Ukraine has been a primary driver of elevated crude oil pricing.

AAA Oregon Director of Public Affairs Marie Dodds is predicting a more stable year of gas prices. Without the sort of dramatic highs Oregonians saw in 2022.

“So even though the war is ongoing, investors have digested that the crude oil prices have become more stable,” Dodds said. “Because investors and market watchers have become more accepting about the war and have had some information on how it has impacted prices.”

Dodds says the average price of unleaded gas in Oregon is now about $3.68 a gallon. That’s down about a penny from a week ago.

Jasmine Lewin joined KLCC as a freelance reporter in 2022. Originally from Portland, Oregon, Lewin wrote for the University of Oregon quarterly magazine Ethos before graduating with a bachelor’s degree in journalism. She likes to spend her free time birdwatching, doing crossword puzzles, and watching scary movies.
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