OPEC+ meeting to consider production decrease, could lead to gas price spike
PITTSBURGH (KDKA) - Overnight, AAA updated their average gas prices both nationally and locally.
Here in Pennsylvania, the average sits just over five cents cheaper than the national average of $3.83/gallon. The average in Pennsylvania sits at $3.77/gallon.
RELATED: Gas Prices: Today's national, state, Pittsburgh averages
However, that could all soon change due to a single meeting that's being held today.
That's the OPEC-plus meeting.
Sources familiar with the matter have said that this group of international oil producers is expected to announce a major cut in oil production, up to more than one million barrels per day.
That would mark the largest cut since the beginning of the COVID-19 pandemic.
Should OPEC decide to do this, it could mean a spike in gas prices.
The Biden Administration said they've been talking to their allies in the Middle East to dissuade them from making this move.
They've warned those leaders it would be a "total disaster" and taken as "a hostile act."
Biden and his administration are pushing to keep gas prices down, especially among inflation concerns as well as the prospect of the midterm elections on the horizon.