OPEC Moving To Capitalize On Surge In Gas Guzzler Sales

US auto sales have been strongly supported this year by the rather low gasoline prices as the global oil price has dropped to record low levels, and the main beneficiaries were the sales of larger, gas guzzling SUVs and pickup trucks.

But the owners and prospective consumers of such models might need to reconsider their strategy because the Organization of Petroleum Exporting Countries announced it has introduced a new strategy that could result in higher prices for 2016. In the US the national average has held steady for almost two weeks at $2.29 per gallon, but has since started to surge to $2.31 per gallon.
 

scenicbyway12 - 10/15/2015 9:06:54 PM

+1 Boost

There is a old Saudi joke, "what the best price for a barrel of oil? $100, $100, $20, $100.

trmckin - 10/16/2015 12:46:49 AM

+1 Boost

Put it this way. If OPEC does something to raise prices from their current level in 2016, it will only reignite the fire for domestic crude production that has taken a huge hit in 2015. Wouldn't expect much a change in retail gas prices for a little while.