US oil prices climbed above $90 a barrel on Thursday for the first time in 2023, threatening to push gasoline prices even higher and heat inflation across the economy. The rise has been driven by concerns about tight supply, with Saudi Arabia and Russia extending their aggressive supply cuts through the end of the year, as well as disruptions in Libya raising concerns. Twelve US states now average $4 per gallon or more for regular gasoline. Overall, US gas prices rose to a new weekly high of $3.86 per gallon on average as of Thursday. Higher energy prices are counteracting some of the progress made by central banks in lowering inflation, with consumer price reports this week showing price rises remained elevated in August partly due to gas costs.