Oregon’s gas prices continue to reach record highs as prices around the country become stable. Portland reached a record average cost per gallon this week which averaged $4.79 per gallon last Sunday and matched that record on Tuesday. That was an increase of two cents from last week’s average. Portland’s gas prices are already one of the highest in the country.
Many expert have blamed the gas prices on the continuing Russia/Ukraine conflict. Several countries and the United States have imposed strict sanctions on Russia. The restrictions have driven fuel costs to record highs as Russia is also a top oil producing country. The price per barrel is above $100.
The average gas prices for the entire state of Oregon went up two cents this week, reaching $4.72. This is a record-setting price. The national average is at $4.24 which is no change from last week.
Oregon is a leader in high gas prices. It has the sixth highest prices in the nation. California, Hawaii and Nevada continue to have the highest prices, with Washington and Alaska slightly above Oregon, too. Also within Oregon, Curry County had the highest prices, averaging $4.93 a gallon. Multnomah County’s prices are, on average, the sixth-highest in the state at $4.85.
Oregon recorded its highest ever price per gallon on March 11. It broke a 14-year-old record. Previously, Oregon’s highest price was $4.29 in July of 2008. That price today would equal $5.65.
National Information:
-The average price for a gallon in the U.S. is $4.192, according to the latest numbers from AAA. The price on Saturday was $4.220. That’s a decline of 14 cents since hitting a high of $4.33 on March 11.
-A year ago drivers were paying $2.87 a gallon on average.
-This past week, President Biden announced plans for the release of more oil reserves. He announced a release of 1 million barrels per day of crude oil for six months. At 180 million barrels it is the largest release ever from the U.S. Strategic Petroleum Reserve.
-The price of crude oil dropped below $100 a barrel last Friday for the first time since February.
