OPEC's Latest Move Will Push Gasoline Higher.(Organization of Petroleum Exporting Countries)

From: Kiplinger Business Forecasts | Date: April 1, 2004| Author: | Copyright information

Byline:Jim Ostroff

The decision by the Organization of the Petroleum Exporting Countries (OPEC) to stick with planned oil production cuts will mean a bit more pain at the pump for American motorists and businesses. Gasoline prices are likely to tack on a few cents each week from the current average of $1.76 a gallon until they crack $2 nationally by early June. In large cities, such as Los Angeles, San Francisco, New York and Chicago, motorists will have to shell out around $3 a gallon. Diesel fuel prices will probably climb by late spring, too, from $1.64 a gallon now to ...

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