Gasoline Prices to Jump After Attacks on Saudi Oil Facilities

(Reuters) -
Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia. (VIDEOS OBTAINED BY Reuters)

U.S. gasoline prices will likely jump as soon as this week after crude oil futures spiked nearly 15% following weekend attacks on Saudi Arabian oil facilities, according to a report by the AAA motor club.

On the week, the national gas price average held steady at $2.56 per gallon, but motorists can expect some volatility at the pump in the coming days and weeks, AAA said in a report.

Over the weekend, Saudi Arabia experienced drone attacks on two major oil facilities – including the world’s largest, Abqaiq. The attacks have taken 5.7 million [crude] barrels per day off the market, accounting for about 6% of global supply.