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(CNN Business)–Brent crude oil crossed $90 a barrel on Wednesday, suggesting more spending pain will occur.
The global benchmark Brent crude jumped 2.2%, and was trading at $90.10 a barrel.
This is the first time that Brent crude has crossed the $90 threshold on a daily basis since October 13, 2014.
US crude rose 2.4 percent to $87.62 a barrel.
Prices, which have been moving slowly, have risen in recent days.
The national average for regular gasoline rose to $3.34 a gallon on Wednesday, according to AAA. This is up from $3.32 a week ago and above the recent low of $3.28. Besides being a seven-year high last fall it was $3.42.
