New York CNN Business —Even before Wednesday’s action by OPEC+ to cut oil production, US gas prices were on their way up. Gas prices rose nearly 3 cents a gallon in AAA’s daily reading Wednesday, to $3.83 a gallon, the biggest one-day hike in nearly four months. Gasoline futures are up about 20 cents a gallon since the slide in gasoline prices ended last month, pointing to possible higher prices ahead. Unfortunately, the refinery capacity squeeze “means gas prices are not going to go down like I had thought,” said veteran oil analyst Andy Lipow. The concern by the Biden administration is that rising gas prices bring renewed focus in voters’ mind.

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