Motor fuels : gasoline price spikes in Oregon in 1999
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Motor fuels : gasoline price spikes in Oregon in 1999

  • 2000-02-23

Filetype[PDF-546.00 KB]


  • English
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    Details:

    • Corporate Contributors:
      United States. Federal Highway Administration
    • Subject/TRT Terms:
    • Publication/ Report Number:
      GAO/RCED-OO-100R
    • Resource Type:
      Research Paper
    • Geographical Coverage:
      Oregon
    • Corporate Publisher:
      United States. General Accounting Office
    • Abstract:
      As requested, we are providing you with information on the extent to which retail gasoline prices in Oregon spiked from January through August 1999 and the factors that accounted for spikes. We used the attached material to brief you and your staff on February 4,2000, and have summarized our findings below. From a historical perspective, gasoline demand in Oregon was about 100,000 barrels per day in 1998, according to federal and oil industry officials. Because there are no

      refineries in Oregon that produce gasoline, all the gasoline consumed in the state is supplied from outside the state. One industry source estimated that about 68 percent of Oregon's gasoline supply in 1998 came from Washington; 26 percent from California; and the rest from various other sources, such as Alaska. Gasoline prices in Oregon are among the highest in the United States. Moreover, demand for gasoline

      in Oregon grew rapidly from 1997 to 1998: According to the Federal Highway Administration's data, the demand for gasoline in Oregon grew by about 8.1 percent during this period, the highest growth rate in the country. In summary, retail gasoline prices in Oregon spiked in the spring and again in the summer of 1999, as shown in the figure below. During the spring spike, average retail prices rose from a 4%-year low of $1.01 per gallon in February to a high of $1.47 per gallon in April-an increase of 46 cents. For the summer spike, after falling by about 14 cents per gallon, average prices rose from $1.33 per gallon in June to $1.52 per gallon in August-an increase of 19 cents. Over the whole period, from February to August, Oregon's average retail gasoline prices increased by about 51 cents per gallon, compared to an average increase of about 33 cents per gallon for the rest of the United States.

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