Gas Prices Hit 8-Month High as Oil Prices Keep Rising

Oil prices have risen for the fifth straight week, with investors hopeful that supply cuts and healthy demand will keep supporting prices. Earlier this month, the OPEC+ alliance announced a reduction in oil output.

People use a gas station in Columbia, Md., on May 17, 2023. Madalina Vasiliu/The Epoch Times

Gas prices in the United States rose to their highest level in eight months late last week as global oil prices climbed, with California registering the highest prices at the pump.

Regular gas averaged $3.71 per gallon nationally on July 29, the highest since mid-November 2022, according to data from AAA. California saw the highest statewide price, at $4.98 per gallon, while average prices in six states topped $4. The lowest was in Mississippi, at $3.29.