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Gas Prices May Be Leveling Off

Gas prices in California have been at a three-year high, jumping about 30 to 40 cents a gallon in the last month or so. And, once again, it’s mainly due to Wall Street speculation from the latest tensions in the Middle East. President Trump has hinted at possible sanctions against Saudi Arabia, over the recent death of an American journalist who’d been critical of the Saudi government. And Patrick De Haan, with Gas Buddy-dot-com, says OPEC has already been cutting oil production over the last year and a half…

click to listen to Patrick De Haan

But De Haan says Trump appears to have backed off on those threats. Meanwhile, the United States is also preparing to issue additional sanctions against Iran on November fourth. That could remove another one-and-a-half million barrels per day from the global market. However, De Haan says there may not be a major impact…

click to listen to Patrick De Haan

Californians typically see a significant decrease in gas prices after the summer driving season.

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