Local News

Crude Oil Prices Surge, Raising the Price of Gas

Climbing crude oil prices are sending pump prices higher despite lower demand for gas. Crude oil prices have surged to around $85 per barrel, elevating gas prices at a time of year when they are usually at seasonal lows. Triple A’s Marie Dodds says the national average for a gallon of gas is $3.31, its highest price since December 2021. The Oregon average is $3.92,  now at its highest price since July 2014. And in Bend, the average for a gallon of regular is $4.02. According to Dodds, the jump in crude oil prices is fueled by the perception that the COVID-19 Omicron variant may ebb, allowing the world’s economies to expand.

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