Business

Actions

Gas Prices Spike After OPEC+ Meeting Is Called Off

The Organization of the Petroleum Exporting Countries abandoned plans to meet after failing to come to an agreement on increasing oil production.
Posted at 5:20 PM, Jul 06, 2021
and last updated 2021-07-06 17:20:07-04

Expect to pay even more at the gas pump. Oil prices have climbed dramatically after a meeting with OPEC+ was canceled yesterday.

That means there is no agreement on increasing production to meet the high demand of oil.

No new meeting date has been scheduled.

The average price of a gallon of gas is up nearly a dollar from a year ago.