Cheap gas still available

Gregg Chamberlain
EAP
The price of gasoline in Prescott-Russell and elsewhere remains at its lowest point ever in the past few years as oil-producing countries see less demand for their product because of travel restrictions due to the COVID-19 pandemic.

The prices for petroleum products may start to rise again if the Organization of Petroleum-Exporting Countries (OPEC) and other oil-producing countries that are not members of the international group decide to join together on an agreement to reduce overall production from their wells and thus push up the world market price for crude oil.

OPEC member Saudi Arabia has proposed the idea but at present there is no indication other countries are ready to consider the proposal.

In the Prescott-Russell region, some gas stations have raised their pump prices to the mid-70-cents range for regular gasoline but others still have their regular gas priced at below 70 cents.