Gas Prices Expected to Rise As OPEC Cuts Oil Production
UNDATED (WJON News) -- Gas prices drifted lower last week as oil prices cooled off, but Gas Buddy says the drop may be temporary.
OPEC on Sunday agreed to additional production cuts, while Saudi Arabia is cutting production in July.
It is likely that as a result of the production cut, oil prices could rally this week, pushing gas prices higher as early as mid-week. How long any rise in gas prices lasts is up in the air.
Average gas prices in Minnesota fell 3.6 cents last week, an average of $3.46. The national average price for gas fell 3.9 cents last week, averaging $3.51.
The national average price for diesel fell 3.4 cents last week and stands at $3.88.
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