GasBuddy head of petroleum analysis Patrick De Haan says OPEC's surprise production cut served as a 'wild card' to gas prices, warning the Midwest and Florida will see spikes first.
GasBuddy head of petroleum analysis Patrick De Haan warns retail gas prices will 'accelerate' in a few days due to OPEC's surprise cuts.in its oil outputs just before the busy summer travel season, one GasBuddy analyst warned American drivers could see a gas price spike within "the next few days."
"I think it's just within a matter of the next few days, we'll start to see those retail gas prices accelerating as a result of those OPEC production cuts," GasBuddy head of petroleum analysis Patrick De Haan said on "OPEC’s decision to pump 1.15 million fewer barrels of oil each day, according to the expert, may force state gas price averages to increase anywhere from 5 to 15 cents.
"The week-on-week increase is only about a nickel, but we are starting to see some signs that states are going to go up big," De Haan clarified. "In fact, some big jumps today in the state of Ohio where prices seemingly jumping 20 to 30 cents, that's going to spread throughout the Midwest and then into Florida. Those states tend to be bellwethers that move first."
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