NC gas prices jump 14 cents as oil producers slow production
The price of gas in the Triangle is on the rise again after oil producers around the world agreed to cut production.
The average price for a gallon of regular gas in the state jumped 7 cents overnight. In a week, it jumped 14 cents.
On Friday, the national average was $3.89. North Carolina's average on Friday was $3.46, compared to $3.39 on Thursday and $3.32 one week ago.
The highest price recorded in N.C. was $4.67, which we reached in June. Use the WRAL Fuel Tracker to find the least expensive gas near you.
CNN Business reports oil and gasoline futures had been falling since mid-June due to growing concerns about a possible recession cutting demand for gasoline and oil, among other factors. Usually, prices decrease in the fall as summer travel slows, but that isn't the case this year.
CNN reports OPEC+, which includes not only nations in the oil cartel but other major oil producers such as Russia, agreed Wednesday to slash oil production by about 2 million barrels a day, contributing to a rise in prices.
