An Exxon Mobil gas station in Las Vegas, Nevada, US, on Tuesday, July 25, 2023. Exxon Mobil Corp. is scheduled to release earnings figures on on July 28.
U.S. gas prices hit an eight-month high Thursday amid rising oil prices.
The national average price for a gallon of regular unleaded climbed to $3.71 Thursday, data from AAA showed. That's more than $0.13 higher than a week prior and the highest level since November.
In 16 states, gas prices are up by at least $0.15 cents in the past week alone — with prices up $0.20 or more in Florida, Iowa and Indiana.
The move higher follows a surge in oil prices, which have climbed more than $10 a barrel over the past month to a three-month high of more than $80.
That increase, in turn, has come in response to production cuts by OPEC nations and the impact of outages at U.S. refineries, both of which are related to intense summer heat.
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