Oil prices have risen. That’s making gas more expensive for US drivers and helping Russia’s war

Published September 25, 2023 3:19 AM

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — Oil prices are up, and that affects people far and wide. Drivers pay more for gasoline, and truckers more for diesel. Russia is earning money that it can use to wage its war against Ukraine. Central bankers may see more inflation coming and keep interest rates high. Behind the recent bump in price is Saudi Arabia’s decision to slash how much oil it sends to global markets through the end of the year. Russia also is cutting back. And less supply means higher prices. Some analysts are betting oil could hit $100, while others foresee that mediocre growth in major economies like China will keep the lid on prices.

Article Topic Follows: AP National

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