OPEC has decided to stick with its current plan of cautious monthly increases in oil production, even though industry experts hoped for more with gas prices and inflation on the rise.
While that is concerning for the long-term, GasBuddy’s Head of Petroleum Analysis Patrick DeHaan said in the short-term, the jump in gas prices is “finally running out of steam as oil prices have stabilized.”
At one point this week, oil prices were around $85 per barrel before they went back down.
DeHaan says it will be important to keep an eye on oil prices.
He says some stations could go down 10 to 20 cents in the next week.
