CHARLOTTE, N.C. —
What could cause the end of lower gas prices?
Let's connect the dots.
The cost of a gallon of regular gas has nosedived after peaking at $5 over the summer. That record high came as we all were dealing with decades of high inflation. Now falling energy prices could continue to help ease consumer inflation.
But AAA says there are a couple of bumps in the road ahead.
OPEC, an organization of oil-producing nations, is sticking with its plan to cut crude oil production next year. That could limit global supplies. Russia could also slash production after Europe's oil embargo and price cap. That could also reduce supplies across the world.
And China's harsh COVID-19 crackdowns have kept many residents off the roads. As restrictions are eased and more people in china travel freely, demand may go up, which could translate to higher prices.
MORE CONNECT THE DOTS
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