Analyst: Oil cut could result in 10% jump in gas prices

NewsNation Staff

Updated: Oct 5, 2022 / 11:25 PM CDT

(NewsNation) — The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could result in a 10% jump in U.S. gas prices over the next month, according to one analyst.

Dan Roccato, a finance professor at the University of San Diego, says he wouldn’t be surprised to see the national average surpass $4 again by Election Day. He joined NewsNation’s “Rush Hour” on Wednesday to discuss the latest cut in oil production.

Watch his full interview above.

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