Gas prices expected to rise after Saudi Arabia cuts oil production

ORLANDO, Fla. — Gas prices are on the rise and travel experts believe prices are only expected to go higher in the weeks ahead.

The rise comes after Saudi Arabia unexpectedly announced plans to cut oil production, causing oil prices to rise.

Within the last week, Florida gas prices have jumped 10 cents per gallon.

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Channel 9 spoke with drivers who said they have noticed the hike, especially those drivers whose cars use premium unleaded.

“Love the car. Hate the price of gas,” said Lindee Owens. “I’m filling up my car and at $4 a gallon is not good.”

According to AAA, the national average for regular unleaded is $3.50 a gallon.

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The average in Florida is 3 cents cheaper at $3.47, as well as the average across most of Central Florida too.

“It sure seems like a sudden skyrocket. I don’t know what’s going on, but my wages aren’t going up at work, so it doesn’t seem like it’s catching up,” Jon Herrera.

“The primary reason we saw gas go up last week was because of falling domestic oil supplies,” said AAA spokesperson Mark Jenkins. “And then there’s an issue with an Iraqi pipeline. Iraqi oil is a popular substitute for Russian oil. So, less oil on the market means higher gas prices.”

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AAA expects another 10 to 15-cent hike in the weeks to come.

“Because of OPEC’s announcement to reduce oil production. There’s less oil in the market, so that raises the price of gasoline,” Jenkins added.

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