Gas prices don’t look to get any better in the coming weeks. Oil prices jumped $1 per barrel in futures on Monday.
Later today, the Organization of the Petroleum Exporting Countries (OPEC+) will meet about output levels, meaning how much each country will export. They could cut output or keep levels as they are. This possibility has markets super nervous.
It doesn’t help that OPEC+ members are all involved in geopolitical crosshairs. Russia reportedly supports keeping supply levels the same. China is worried about Iran and its nuclear arms deals with the West. All of this is leading to higher gas prices and higher consumer prices for those things that need gas to ship them to us. No wonder the rest of us feel so powerless about our finances! See the story below!