Gas Prices Rise Locally After OPEC Announces Scale Back in Oil Production

October 6, 2022 | 6abc.com

Gas prices rose overnight across the Philadelphia region hours after OPEC announced it would scale back oil production by two million barrels a day.

On average, the price of gas in Philadelphia rose about 5 cents to $3.69 a gallon overnight. In South Jersey, it shot up 6 cents. It also was up 6 cents in northern Delaware after the news.

NJ SEED: Fuel prices rose throughout the nation during the first year of the present administration in Washington, DC and declined this past summer due to an unprecedented peacetime draw down of the nation’s Strategic Petroleum Reserve. The United States has returned to a policy of energy dependance, and is therefore at the mercy of foreign suppliers, some of whom are adversaries.