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close video GasBuddy analyst reports some states seeing 20 to 30-cent bumps at the pump

GasBuddy head of petroleum analysis Patrick De Haan warns retail gas prices will ‘accelerate’ in a few days due to OPEC’s surprise cuts.

After OPEC members announced surprise production cuts in its oil outputs just before the busy summer travel season, one GasBuddy analyst warned American drivers could see a gas price spike within "the next few days."

"I think it's just within a matter of the next few days, we'll start to see those retail gas prices accelerating as a result of those OPEC production cuts," GasBuddy head of petroleum analysis Patrick De Haan said on "Varney & Co." Tuesday.

OPEC’s decision to pump 1.15 million fewer barrels of oil each day, according to the expert, may force state gas price averages to increase anywhere from 5 to 15 cents.

"The week-on-week increase is only about a nickel, but we are starting to see some signs that states are going to go up big," De Haan clarified. "In fact, some big jumps today in the state of Ohio where prices seemingly jumping 20 to 30 cents, that's going to spread throughout the Midwest and then into Florida. Those states tend to be bellwethers that move first."

GAS PRICES COULD HIT $4 A GALLON AFTER OPEC PRODUCTION CUT

As of Tuesday, the price of regular gasoline averaged $3.50, according to AAA. This means if De Haan’s prediction is correct, gas prices could breach $4 in just a few weeks.

GasBuddy head of petroleum analysis Patrick De Haan warned of “big jumps” in gas prices within “the next few days” on “Varney & Co.” Tuesday. (iStock)

States in the Midwest and some parts of Florida have already shown signs of "price cycling," the analyst pointed out.

"They're the first to move, and they generally see really big corrections. So Ohio is starting to see some of those stations go up 20 to 30 cents, and I would say within the next 24 hours, we'll likely see the same happening in Indiana and Michigan, where stations could also get closer to $4, maybe $3.85 or $3.95 in those states," DeHaan said.

"That's a 20 to 30-cent bump," he emphasized, "and that's what the rest of the nation may start to see as well with the national average potentially rising 10 to 15 cents over the next week or two."

For those who use heavy machinery and require diesel, De Haan indicated that those retail prices "continue to moderate." close video OPEC’s oil cut surprise a ‘slap in the face’ to Biden: Phil Flynn

Payne Capital Management President Ryan Payne, Geltrude & Company founder Dan Geltrude, and The Price Futures Group senior market analyst Phil Flynn react to OPEC announcing oil output cuts on ‘The Claman Countdown.’

"We should see the average price for diesel continuing to inch down. Of course, that remains a wild card if OPEC further cuts oil production or if there are any refinery hiccups, that could change," De Haan said. "But diesel prices [are] continuing to moderate."

But less than 60 days away is hurricane season – one factor that Lipow Oil Associates President Andy Lipow says further complicates gas prices.

GET FOX BUSINESS ON THE GO BY CLICKING HERE close video We are now dependent on a cartel in Saudi Arabia for oil: Sen. Markwayne Mullin

Sen. Markwayne Mullin, R-Okla., addresses how OPEC+ plans to cut oil production by 1 million barrels a day on The Bottom Line.

"A major storm making landfall along the Gulf Coast, where 15% of the nation’s oil production and over 45% of the nation’s refinery capacity is located, can result in a significant supply disruption sending prices even higher," Lipow previously told FOX Business.

Oil production rose to nearly 12.5 million barrels per day in January, which is the highest level since March 2020, according to data from the Energy Information Administration.

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FOX Business’ Daniella Genovese contributed to this report.

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Phillies’ Nola hit hard in return from injured list

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Phillies' Nola hit hard in return from injured list

WASHINGTON — Philadelphia Phillies pitcher Aaron Nola‘s first start after returning from the injured list didn’t last long.

The right-hander allowed six runs in 2⅓ innings Sunday against the Washington Nationals, a start that ended when seven consecutive batters reached safely.

Nola struck out four in his first major league outing since May 14.

The former All-Star was one of the majors’ most durable pitchers entering the season, making at least 32 starts and throwing at least 180⅔ innings in each of the last six full seasons. But a sprained right ankle and fractured rib cost him three months this season.

His return became even more significant Saturday when Philadelphia placed ace Zack Wheeler on the injured list with a blood clot in his right arm. Nola already was scheduled to start after making three minor league rehabilitation appearances, though the Phillies scrapped their plans to use a six-man rotation.

Nola gave up Luis Garcia Jr.’s leadoff single in the first inning, then appeared to settle in. He retired the next seven batters as Philadelphia built a 6-0 lead.

The Nationals stitched together three consecutive singles in the third, the last by CJ Abrams to score a run. That led to a mound visit from pitching coach Caleb Cotham, but Nola then walked Paul DeJong before giving up Daylen Lile‘s two-run single and Dylan Crews‘ two-run double. Jose Tena followed with a tying double to end Nola’s day.

Nola allowed seven hits while throwing 53 pitches. His ERA rose to 6.92.

In addition to Nola taking Wheeler’s roster spot, the Phillies activated third baseman Alec Bohm from the injured list and optioned infielder Otto Kemp to Triple-A Lehigh Valley. To make room on the 40-man roster for Nola, Philadelphia released outfielder Cal Stevenson.

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Red Sox’s Mayer set for season-ending surgery

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Red Sox's Mayer set for season-ending surgery

BOSTON — Red Sox infielder Marcelo Mayer says he will have season-ending surgery on his right wrist.

The 22-year-old Mayer injured the wrist in late July. He got an injection to try to come back but decided to have surgery. He said he has a tear that hadn’t improved with the anti-inflammatory injection.

“I knew definitely that it was going to be on the table,” he said Sunday, sitting in the Red Sox dugout at Fenway Park before they faced the Miami Marlins in the series finale.

“As an athlete and somebody that loves this game so much, all I want to do is play and be out there every single day, especially when you’re in the big leagues and the playoffs are so important,” he said. “The way that my wrist is right now, there’s just no way to come back and play. It made the decision pretty easy to have the surgery.”

Drafted fourth overall in 2021, Mayer was called up in late May. A natural shortstop, he played mostly third base, batting .228 with four homers and 10 RBIs in 44 games.

“The shot wasn’t working. It’s a three-month recovery. He should be fine if everything goes well for spring training,” Red Sox manager Alex Cora said. “He’s a big part of the future of this organization. Just get him right, get him ready and see what happens in the future.”

Cora said he knew things weren’t going well after Mayer played catch on Thursday’s day off.

“He didn’t sound too positive about it. ‘My swing is not right,'” Cora said Mayer told him.

Mayer said he “gave it my all” but knew that surgery was the best option.

“Obviously with options given, I could have had surgery when I first injured it or get the shot,” he said. “I tried everything I could with the slight chance to come back and play.”

He also missed the final two months in the minors last season with a shoulder injury and didn’t play after July 31.

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Reds DFA fan favorite Fraley, activate Stephenson

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Reds DFA fan favorite Fraley, activate Stephenson

CINCINNATI — Cincinnati Reds outfielder Jake Fraley was designated for assignment on Sunday, with catcher Tyler Stephenson‘s thumb injury and a short bench contributing to the decision.

The Reds also recalled right-hander Connor Phillips and outfielder Will Benson from Triple-A Louisville and optioned left-hander Joe La Sorsa to Triple-A.

“We came to the idea of kind of giving Jake a chance to play where maybe he thinks he deserves to play, which I understand, is maybe better than him sitting the bench here,” Reds manager Terry Francona said. “Stephenson is banged up. We were a little concerned about playing short, maybe a two-man bench.”

Fraley, 30, is in his fifth major-league season, his fourth with Cincinnati. He is batting .232 with six home runs and 23 RBI in 67 games.

He hyperextended his knee after making an error in left field to allow a run to score in the 10th inning of a 6-5, 11-inning loss to the first-place Brewers on Saturday. Francona said neither the miscue nor the injury factored into the DFA move.

Stephenson reaggravated an injury to his left thumb during the Pittsburgh series and is day to day. Jose Trevino, who was behind the plate Saturday night, got the start for Sunday’s day game.

Francona said the decision on Fraley, a popular player among fans and in the clubhouse, wasn’t easy.

“Not that I needed an excuse to lose sleep last night, but you do, because you’re thinking about it,” Francona said. “You’re making decisions that alter their life. The day when I stop thinking about it, I will re-retire.”

Cincinnati, the only team this season that hasn’t been swept in a series, has dropped the first two games of the three-game set against the Brewers, who have won 14 straight games.

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