On Thursday, U.S. oil prices topped $90 per barrel for the first time in nearly a year.
As a result, the average national gas price climbed to $3.86 per gallon Thursday, up 16 cents year-over-year.
While inflation has been easing nationwide over the past months, the rising oil prices could exacerbate inflation across the entire U.S. economy.
The price hikes come following news that Saudi Arabia and Russia would unexpectedly continue their oil supply cuts.
