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Gas Prices Surge 22 Cents in Oregon After Pipeline Shutdown

Yahoo Finance •
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Gas prices in Oregon and Washington have spiked dramatically following a temporary closure of the Olympic Pipeline, with Oregon seeing the largest week-over-week increase in the nation at 22 cents per gallon. The average price in Oregon jumped to $3.91 per gallon, while the national average increased by just 3 cents to $2.95.

The Olympic Pipeline shutdown for maintenance and repairs last Tuesday before resuming operations on Thursday, according to a BP spokesperson. The pipeline, which transports gasoline, diesel and jet fuel along a 400-mile system from Whatcom County to Portland, has experienced multiple disruptions recently, including a gas leak discovered in November that caused a previous shutdown.

AAA officials note that rising prices also coincide with California refineries transitioning to summer-blend fuel, which is more expensive to produce. Geopolitical tensions between the U.S. and Iran are further driving up crude oil prices, potentially extending the pain at the pump. While the pipeline's reopening should provide some relief, AAA's Marie Dodds warns that seasonal price increases and ongoing refinery maintenance will likely keep prices elevated