AAA: Gas price increase likely soon from drop in inventories

Gas prices dropped about 1 cent in Vancouver over the past week, but AAA Oregon/Idaho said Tuesday there could be more increases around the corner.

The auto club said demand for gasoline is at an all-time high this summer, but a drop in gas inventories is likely to lead to more price increases soon.

Dodds added that an upcoming meeting for the Organization of Petroleum Exporting Countries — OPEC — is set to meet June 22. The cartel will discuss increasing oil production, which would help stem the rise in price.

Vancouver prices are $3.42 per gallon on average, up 2 cents from last month and nearly 60 cents from this time last year. Portland, likewise, stands at $3.31 per gallon, which is flat from last month and up 52 cents from a year ago.

Oregon and Washington continue to be among the most expensive states for gas. Washington, at $3.45, is the third most expensive state to fill up; while Oregon, at $3.31, is the sixth.

Gas prices nationwide are, on average, $2.88 per gallon, AAA said.