DEARBORN (WKZO-AM) — For the first time in a long time we can blame OPEC for a spike in prices at the pump.
As we reported last week, after years of disarray, the Organization of Petroleum Exporting Countries have met again and agreed to cut back production 1.2-million barrels a day.
While the actual cut is theoretical at this point and will have no real impact on oil supplies for some time, Oil pollster Trilby Lundberg says it’s already had an impact on the prices that refineries pay for crude oil and that will soon be passed along to consumers nationwide.
AAA of Michigan is reporting a 12-cent per gallon hike in the last week to a statewide average of about $2.21/gallon. They are also predicting prices will rise.
They say it could go higher in the coming months.
