Higher gas prices could be ahead after latest Saudi oil production cut

Gas Prices Reverse Direction, Increase Nearly Nine Cents A Gallon Over The  Past Week - The Pulse » Chattanooga's Weekly Alternative


American drivers could be staring another jump in gasoline prices in the face and it is coming just as the summer driving season is here.

Saudi Arabia announced another cut in oil production, meaning it will be sending less oil to the global economy. In turn, the move is seen as an effort to prop up sagging crude oil prices.

The latest oil cut of 1 million barrels a day will begin in July reported the Associated Press.

Click here for Associated Press.