Pump jacks are seen in an oil field in the Monterey Shale formation near McKittrick, California.
Pump jacks are seen in an oil field in the Monterey Shale formation near McKittrick, California.

Gas prices shot up 3.6 cents to $3.86 a gallon on average Thursday, the American Automobile Association reported.

It was the biggest one-day hike in nearly four months and more increases may be on the way after a summer of declines.

Gas prices fell for 99-straight days ending Sept. 20 after hitting a record high of a little more than $5.03 a gallon in June. Prices have risen every day since Sept. 20, except for a single day of decline.

Price could continue to rise amid global production cuts.

OPEC+ announced Wednesday that its members would cut production by 2 million barrels a day. Members include major oil producing nations outside the Middle East cartel such as Russia.

Meanwhile, the U.S. has shut down or scaled back production at several facilities. Some 18% of the country's refining capacity is offline, according to Tom Kloza, global head of energy analysis firm OPIS, which tracks gasoline prices for AAA.

Oil futures (CL=F) rose $0.82 a share, or 0.93%, to $88.58 in afternoon trading Thursday.