Pump prices are creeping towards $4 a gallon nationally
The national average for regular gasoline hit $3.85 a gallon on Monday, according to AAA. That’s the highest level since October 19 and comes just weeks ahead of Labor Day weekend when millions of Americans will hit the roads. The summer spike in gas prices has eased, with the cost to drivers moving just gradually higher more recently. The national average is up by two cents over the past week.
leader Saudi Arabia earlier this month extended its oil production cut at least until September. An official source from the Saudi Ministry of Energy told state-run news agency SPA On August 3 that the kingdom will extend this voluntary cut of one million barrels per day. The source told state media the cut could be extended further and the move is aimed at supporting the stability and balance of oil markets.
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