|Chart via Gas Buddy|
“Motorists will soon be facing higher gasoline prices as a result of [Wednesday’s] tremendous gains in crude oil,” Patrick DeHaan, senior petroleum analyst at GasBuddy, told MarketWatch.
Oil prices climbed more than 9% yesterday following OPEC's decision to cut production and have climbed another 4.5% today.
DeHaan said that based on Wednesday and Thursday’s oil rallies, national average prices for gasoline could climb to the $2.30’s level before Christmas—about 10 cents to 15 cents higher than current prices.
Retail gasoline prices haven’t been above $2.30 since June, during the summer driving season, according to data from GasBuddy.