Gas prices are too damn high as one resident rapped at a city council. Drivers in the Portland area were paying $4.92 a gallon last week, up 15 cents from a week ago. The average price for a gallon of regular in Oregon jumped to $4.85, according to AAA, up 16 cents from the week prior. The national average was $4.37, up 17 cents.
The gas price spiked along with the cost of a barrel of crude oil, now $110. The price of crude accounts for more than half the cost of filling up a tank with gas or diesel, said AAA Oregon/Idaho. The other biggest factors are refining the oil into fuel, distribution, marketing and taxes.
Experts are saying that these high pump prices are not likely to ease anytime soon. Some are blaming it on Putin. Russia’s invasion of Ukraine has pushed oil prices higher. The United States and several other nations banned the import of Russian oil as punishment for the war.
The new restrictions from the European Union not only harms Russia but also the consumers who rely heavier on Russia’s crude than the U.S. then there is the global supply. It will get squeezed which will keep prices high.
The Pacific Northwest already rank among the highest gas prices in the country. Oregon gas remains the fifth priciest among U.S. states behind California, Hawaii, Nevada and Washington. Oregon’s 16-cent jump in the price per gallon was the highest on the entire West Coast this week.
Oregon’s most expensive gas is in Curry County ($5.07 a gallon), Harney County ($5.06) and Josephine County ($5.04). In Multnomah County last week, a gallon of regular was edging closer to $5 a gallon, landing Tuesday at $4.98. This week it may go enemy higher.
