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OPEC. They cut production if the price falls too much.
by ajkirwin 18y ago
OPEC. They cut production if the price falls too much.
- briancooley 18y agoThat's the price of oil, not the price of gasoline. While increasing oil prices will cause gasoline prices to rise, the effect in question - that gasoline prices in the US historically go up in the spring and summer - is related to the gasoline supply tightening up because of the switch from winter to summer gasoline specifications and increasing demand because of summer vacations, not because of a reduction in the crude oil supply. OPEC production increased about 3% from January to August this year. I'm getting too far off topic, I guess.