OPEC Accord Expected to Hike Gas Prices

Motorists can expect to pay more for gasoline in the next few days because of the OPEC decision to tighten oil supplies, but an industry expert said Sunday that the hike may be short-lived.

The Lundberg Survey of 16,000 gasoline stations nationwide found pump prices as of Saturday had dropped an average 1.67 cents per gallon since the July 25 sampling, editor Jan Lundberg said in his first analysis since the death of his father, Dan Lundberg, who suffered a stroke Aug. 3.

Jan Lundberg said there were already indications prices were moving up.

“The end of the steady price slide has occurred,” he said.

But prices are expected to fall again.

“The roller coaster will likely continue with the length of this driving season and the severity of this next winter determining pump prices much more than OPEC does,” he said.