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Gas prices in Eugene continue to fall

Eugene gas prices have fallen 6 cents per gallon in the past week, averaging $2.36 per gallon.

Posted: Dec 7, 2020 8:37 AM
Updated: Dec 7, 2020 8:40 AM

EUGENE, Ore.-- According to GasBuddy.com, Eugene gas prices have fallen 6 cents per gallon in the past week, averaging $2.36 per gallon.

Gas prices in the city are still 6.5 cents per gallon higher than a month ago and stand about 71.6 cents per gallon lower than a year ago.

The cheapest station in Eugene is priced at $2.01 per gallon while the most expensive is sitting at $2.71 per gallon. The national average is up 5.7 cents per gallon from a month ago and stands 42.6 cents per gallon lower than a year ago. 

"With oil's rally to a new COVID-19 high-water mark, gas prices have begun to follow, even as gasoline demand crumbles to some of the lowest levels in months," said Patrick De Haan, head of petroleum analysis for GasBuddy. "Optimism continues to propel oil markets higher, led by positive news on a COVID-19 vaccine, but should anything change timing wise, we could see a reversal, but for now it remains full steam ahead with markets focused on the promise of oil and gasoline demand rising, or the best potential outcome of the situation. Should the hype be overblown, a correction could happen in the weeks or months ahead. For now, motorists may see more volatility in oil markets then we've seen in months."

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