Why are gas prices rising? Experts point to extreme heat and oil production cuts

The Associated Press

NEW YORK (AP) – Drivers are in for another headache at the pump as U.S. gas prices continue to rise. The national average for gas prices stood at about $3.78 a gallon on Tuesday – about 25 cents higher than that seen one month ago, according to motor club AAA.

While today’s prices at the pump remain far lower than they were last year, when energy costs soared worldwide in the months following Russia’s invasion of Ukraine, experts say such a jump is unusual.

There are a few factors causing oil prices to rise, experts say, including global supply production cuts and impacts of this summer’s extreme heat on refineries.

Read the full story on AP News right here.

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8/2/2023 2:43:35 PM (GMT -5:00)