Gas prices hit 8-month high

Prices are still down from the June 2022 high of $5.016 per gallon, however.

By Ben Whedon

Published: July 27, 2023 4:35pm

U.S. gas prices hit an 8-month high on Thursday.

The average price of a regular gallon of gas stood at $3.714, according to AAA. One week ago, that figure stood at $3.580 per gallon, marking a more than $0.13 increase in a week. Prices were last as high in November 2022.

Prices are still down from the June 2022 high of $5.016 per gallon, however. At the end of July 2022, that figure had dropped somewhat to $4.302 per gallon.

The modest surge in pricing follows production cuts from OPEC+, NBC News reported. The oil producing bloc announced production cuts in April of this year, sending oil prices skyrocketing, which has in turn translated to price hikes for gas.

Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.