Watch Out – New Report Says Gas Prices in Illinois May Explode

You might want to gas up your vehicle of choice as soon as possible as a new report indicates petroleum prices in Illinois may soon surge with little warning.

I'm not an economist, but it doesn't take an expert to know that prices of gas in Illinois and the rest of America are tied to production from oil producers like OPEC. There's a new report just shared by MSN saying that OPEC has agreed to cut production in an effort to raise oil prices. Translation? Better gas up before prices start to soar.

There's even more concerning news as the report also says that OPEC and other oil producers are in negotiations to find even more ways to make oil prices rise. The cut in production is planned to extend all the way into early 2025. That may very well mean an increase in gas prices for Illinois and other states for the remainder of 2024.

I'm not an economist or fuel expert, but even I understand that the less oil that's produced means the more regular people like you and me will pay when we gas up our vehicles.

My understanding is there are even more OPEC meetings early this next week so watch oil prices closely as they may be about to explode.