Local consumers have enjoyed a brief reprieve after seeing gas prices skyrocket at the beginning of November.
Reaching as high as nearly 120 cents per liter within a week's span at that point, they slowly slid back down to their current state. As of Wednesday morning, the numbers have settled out at 109.9, 4 cents lower than last week's average of 113.9, although 9 cents higher than last month.
However, the prices are in limbo, as everything hinges on the decisions to be made within the next 48 hours on the other side of the world. OPEC is expected to announce their next move on Thursday when it comes to the oil production cuts that have been in effect. The general expectation is that they will extend those for 2018, which analysts say would result in another surge at the pump. That said, uncertainty is also present in the air as the talks come about, as Russia is hesitant to see the market head in that direction.
Gas inventories have also fallen some over the past few months, further bumping the price, as refineries struggle to recover from the various weather calamities that have hit the U.S., and broken pipelines undergo repairs.