Gas prices could rise by anywhere between 10 and 20 cents per gallon after OPEC announced cuts to oil production.
She said:"Effects will be seen in varying amounts in different parts of the country. We've already seen prices begin to increase in the South and Northeast, where prices had been stable in recent weeks."
The national average is up ~25c/gal from the bottom, $3.87 per gallon this morning, but relief could be around the corner for some, mainly in CA/AZ/NV, as well as MI/IN/OH/IL/WI. For those in the South, East Coast, Northeast and Rockies, prices may rise 10-20c/gal in nxt 2 wks.Even so, there is potentially good news on the horizon for those in states that have seen huge fluctuations in their gas prices over recent weeks.
Petersen said that prices will likely remain higher until the demand on gas is alleviated or the U.S. government is able to free up more of its strategic reserves.
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