Experts say gas will probably go up 15 cents this week in Central Florida

by

comment
MIKE MOZART/FLICKR
  • Mike Mozart/Flickr
Gas prices are starting to rise in Central Florida as a result from Wednesday’s decision by the Organization of the Petroleum Exporting Countries to cut oil production.

For the first time in 8 years, OPEC plans to cut crude oil production by 1.2 million barrels a day, which raises the cost of a barrel of crude oil by 9 percent. Analysts believe this will increase the price of a gallon of gasoline by roughly 10 to 15 cents over the next week.



Gregg Laskoski, a senior petroleum analyst with Gasbuddy, told the Orlando Sentinel, that Central Florida is already seeing gas prices go up about 8 cents simply based on the speculation that OPEC would force members to stop pumping so much oil.

According to a press release by AAA, the state of Florida has consistently seen the gift of lower gas prices four out of the last five years in the month of December. In November of this year, the state average declined a total of 10 cents at the pump for most Floridians.



Floridians last month paid an average of $2.15 at the pump and the saw the second-lowest average since 2004, just 2 cents higher than 2015, says AAA.

According to the Sentinel, a cut in production could potentially fix an excess of crude oil and gasoline. This glut in the reserves has been driving down fuel prices for nearly three years.

OPEC's decision to cut oil production is expected to go into effect the beginning of next year.

We welcome readers to submit letters regarding articles and content in Orlando Weekly. Letters should be a minimum of 150 words, refer to content that has appeared on Orlando Weekly, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at feedback@orlandoweekly.com.

Orlando Weekly works for you, and your support is essential.

Our small but mighty local team works tirelessly to bring you high-quality, uncensored news and cultural coverage of Central Florida.

Unlike many newspapers, ours is free – and we'd like to keep it that way, because we believe, now more than ever, everyone deserves access to accurate, independent coverage of their community.

Whether it's a one-time acknowledgement of this article or an ongoing pledge, your support helps keep Orlando’s true free press free.