Gas prices up on OPEC 'surprise'

Auto club federation AAA said OPEC's "surprise" announcement recently of a coming 1 million barrel a day cut in oil production sent crude prices up — and consumers are feeling the pinch at the pump.

The average U.S. price for a gallon of regular gas Saturday was $3.59, while in Missouri, it was $3.21 — up 8 cents in the Show Me State in the last seven days and up 18 cents in the past month.

"The oil market has had a few days to digest the OPEC news and speculate about the reason. This has led to the price of oil stabilizing for now," said Andrew Gross, AAA spokesman, "but the cost of oil accounts for more than 50% of what we pay at the pump, so drivers may not catch a break at the pump any time soon."

County averages Saturday (AAA)

• Cape Girardeau: $3.20.
• Perry: $3.12.
• Scott: $3.23.

City ranges Saturday (GasBuddy)

• Cape Girardeau: $3.04 to $3.39.
• Jackson: $3.09 to $3.19.
• Perryville: $2.94 to $3.29.
• Scott City: $3.09 to $3.29.

Diesel

While unleaded gasoline is up, diesel prices continue to show a downward trend in Missouri, with the heavier petrol averaging $3.79 a gallon Saturday, down a penny from a week ago and down 12 cents from one month ago.

About OPEC

Organization of Petroleum Exporting Countries, founded in 1960, is made up of 13 member countries accounting for an estimated 44% of global oil production, giving OPEC a major influence on oil prices worldwide. Among the originating OPEC nations are founding members Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

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