Business

Gas Prices Spike After OPEC+ Meeting Is Called Off

The Organization of the Petroleum Exporting Countries abandoned plans to meet after failing to come to an agreement on increasing oil production.

Gas Prices Spike After OPEC+ Meeting Is Called Off
Steven Senne / AP
SMS

Expect to pay even more at the gas pump. Oil prices have climbed dramatically after a meeting with OPEC+ was canceled yesterday.

That means there is no agreement on increasing production to meet the high demand of oil.

No new meeting date has been scheduled.

The average price of a gallon of gas is up nearly a dollar from a year ago.