Oh No! Gas Is Almost $2
Gas prices in the United States have reached the highest point in 10 weeks because OPEC is beginning to slash crude production to help reduce inventories and boost prices, analysts said.
Here we go again. Gas prices are as close as they can be to $2 without actually being $2.
Gas prices in the United States have reached the highest point in 10 weeks and Organization of the Petroleum Exporting Countries - OPEC - is beginning to slash crude production to help reduce inventories and boost prices, analysts said.
There is also the expectation that refineries will temporarily shut down operations because of withering demand and for seasonal maintenance.
One factor for higher gasoline prices could be that refineries stand to gain a higher profit margin by producing heating oil instead of gasoline, according to AAA. This is the first time this is happening in recent memory and it would limit the supply of gasoline.
The average price for unleaded gas in Connecticut is $1.99.
