PORTLAND, Ore. — Gas prices are soaring, but one gas station in Portland, Oregon, has raised its prices to $6.49 per gallon for regular. The north Portland Shell is selling “Plus” for $6.79/gallon and “V-Power” for $6.99/gallon. That means it would cost more than $75 to fill a 12-gallon tank with regular gas.
The average price of gas in Oregon Thursday was $4.16, higher than the national average of $3.73, according to AAA. This is the first time since 2012 the state’s average price has been more than $4 a gallon, KATU reported.
“Shell-branded operators are independent businesspeople who make their own operating decisions and set gasoline prices as they believe appropriate. While we do not have control of prices at independently owned Shell-branded stations, we do encourage them to act responsibly when setting prices at the pump,” Shell said in a statement to KPTV.
“The big factor is we have a war in Europe involving one of the world’s largest oil producers, Marie Dodds, of AAA Oregon told KPTV. “The markets are very nervous about how long this invasion will last, what the outcome will be.”
On Thursday, GasBuddy reported that San Francisco became the first major U.S. city to reach $5 gas, rising from the previous high of $4.73 in Oct. 2021.
“Unfortunately, this record is just likely the beginning of a larger trend of price spikes to come to California and the entire country,” Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement.
Oil has now topped $112 a barrel for the first time since 2011, a likely result of the ban on Russian exports, KNTV reported. Russia is the world’s second-largest oil exporter.