NBC News reports that for the past 98 days, gas prices have been dropping. But AAA reports that on Oct. 10, the average cost of a gallon of gas in the U.S. rose to $3.92.
The OPEC+ decision to cut oil production is a key factor. Patrick De Haan, chief petroleum analyst at GasBuddy.com, says prices are likely to continue climbing.
With OPEC+ deciding to cut oil production by two million barrels a day, we’ve seen oil prices surge 20%, which is the primary factor in the national average rising for the third straight week, Patrick De Haan, chief petroleum analyst at GasBuddy.com, via NBC News.
De Haan predicts that the average cost of gas in America will once again hit $4 a gallon.
I don’t expect much improvement in prices for most of the country, Patrick De Haan, chief petroleum analyst at GasBuddy.com, via NBC News.
Andy Lipow, president of Lipow Oil Associates LLC consultancy, agrees with that prediction. NBC News reports that some West Coast and Midwest refineries are set to resume operations, which would help prices to go down in those area