In just a week, gasoline prices in the Portland metro area jumped 18 cents per gallon.
AAA reports the current average price for a gallon of regular unleaded is $3.50 locally. A week ago, it was $3.32.
That corresponds with significant increases in both the national and statewide averages.
The national average shot up 17 cents to $3.53. The jump in average gas prices in Oregon was more than 16 cents to $3.51 per gallon.
AAA said the price surge is largely the result of higher crude oil prices and the rise of mid-continent retail gasoline prices, which fell dramatically to end the year and are now swinging back up.
On the West Coast, wholesale gasoline prices have skyrocketed more than 50 cents a gallon since mid-January. The region is in the middle of refinery maintenance as the switch to summer gasoline occurs, according to AAA.
The rest of the country doesn't move to the cleaner-burning and more expensive summer fuels until late February or March.
The last time gasoline prices increased more dramatically in such a short period of time was March 4, 2011. That was due to violence in northern Africa and the Middle East, most notably in Libya, which sparked fears of supply disruption.
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Thursday, July 31 2014 11:57 AM EDT2014-07-31 15:57:19 GMT
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