Bay Area gasoline prices soared Thursday in the wake of the forbidding specter of Russia’s invasion of Ukraine.
SAN JOSE — Gasoline prices in the Bay Area soared Thursday in the wake of the forbidding specter of Russia’s invasion of Ukraine to all-time high prices that are poised to intensify the skyrocketing cost of living in the region.
“I was shocked to see how high gas prices are here,” said Mary Saint, a Huntsville, Alabama resident who was in the Bay Area on a family matter and was getting gasoline at a Chevron gas station in San Jose near Interstate 880 and Oakland Road. “I’m concerned the prices are going higher.” Prices are about $1 a gallon cheaper back home, she said.On Sunday, average gasoline prices were $4.76 in both San Jose and Oakland and $4.84 in San Francisco.
Motorists who live in the Bay Area and nearby and who are familiar with the expensive gasoline in the region expressed dismay at the surge in fuel costs. What that means is a big ramp-up of domestic production of crude oil and natural gas during the presidency of Donald Trump led to a big shift by 2020 in the nation’s reliance on imported oil products.“Following its historic shift to being a net exporter of petroleum in 2020, the United States continued to export more petroleum, which includes crude oil, refined petroleum products, and other liquids, than it imported in 2021,” the U.S. Energy Information Administration reported on Feb. 18.
Plus, the U.S. is headed towards importing more crude oil products than it exports, the federal agency’s analysis shows.
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