Preheat an outdoor grill for high heat and lightly oil the grate. Reduce grill heat to medium.
Grill whole peppers until charred on all sides, turning about every 5 minutes. Place charred peppers in a plastic food storage bag and tie shut. Allow peppers to cool in bag.
Combine olive oil, garlic, basil, oregano, salt, and pepper in a 1-pint glass jar (or larger, depending on size of peppers).
Remove cooled peppers from bag and scrape off charred skins. Cut peppers in half and remove seeds and stems. Slice peppers into long strips and place in oil mixture. Mix well, assuring peppers are covered in oil. Serve, storing leftover peppers in refrigerator
for up to 5 days.