Gas prices have dropped, but will the price decline continue?

Gas prices have dropped, but will the price decline continue?
Published: Dec. 6, 2022 at 8:05 PM CST
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MANKATO, Minn. (KEYC) - Oil prices have been falling over new Coronavirus worries which has caused drops in fuel demand.

AAA says the national average dropped 14 cents to three dollars and 40 cents a gallon, but one AAA expert said this past Sunday’s OPEC meeting may slow the rate at which prices have been dropping.

OPEC decided to maintain output cuts of 2,000,000 barrels a day in order to increase global oil prices.

The meeting took place before Monday’s European Union sanctions against Russian oil exports took effect.

the European Union is currently sanctioning Russia over its invasion of Ukraine.