Oregon gas prices reached over $5 to create a record for gas prices for the state. The state’s average rose to $5.06 per gallon. That is a 21-cent jump over last week’s average. Prices are even higher in some cities. Portland-area prices reached $5.13 per gallon. That increase was also up 21 cents from last week. The average for national gas prices broke records as well. Those prices rose 15 cents – making the national average $4.52.
For weeks now, national and state prices in Oregon have been seeing record breaking numbers. This is the case for almost every day for the past week. The high price of crude oil is more than $110 a barrel. In addition to general inflation, gas is costing customers more at the pump. No expert has predicted an end to the rising prices.
Russia’s invasion of Ukraine has been touted as the blame for high crude oil prices. Costs has been going up for months. The U.S. and other countries imposed strict sanctions on Russia. Other countries depend on Russian crude oil, as the country is one of the world’s largest oil producers. AAA stated that a barrel of crude cost $66 a year ago, compared to $112 today.
The state of Oregon’s gas prices peaked in the summer of 2008 at $4.29 a gallon. Adding on inflation would make that price about $5.76 today. Before that the nationwide mark was set in 2008 at $4.27, or $5.73 today with added inflation.
Oregon ranks fifth in the nation for highest gas prices. California remains the most expensive place to buy gas, where the state has reached a record-breaking $6 per gallon this week. In Oregon, Portland is not the highest gas prices in the state. Curry County’s prices are the highest at $5.24 per gallon. Josephine and Lake County are not far behind. Multnomah County is averaging $5.18 per gallon.
