(NAFB) Oil prices are holding fairly steady, thanks to a producer/consumer balancing act. Patrick DeHaan with GasBuddy dot com says OPEC met this past weekend and announced plans to increase oil production in October by roughly 180,000 barrels per day.
But DeHaan pointed out the global economy is doing a good job absorbing the extra oil.
DeHaan said he expects gasoline prices to drop in the coming weeks, not only because of the increased amount of oil, but the transition in the U.S. to cheaper winter blends of fuel. When it comes to diesel prices, DeHaan expects the opposite to occur.
GasBuddy dot com’s Patrick DeHaan.
