Gas prices may soon be on the rise once again. The Organization for Petroleum Exporting Countries, Russia and Russian-led allies announced on Wednesday they will cut their oil output by 2 million barrels a day. The price of Brent Crude rose on the announcement, sitting at $93.65 a barrel as of Wednesday afternoon. On Sept. 26, the price of Brent Crude was as low as $82.86 a barrel, according to oilprice.com.
The decrease in output and increase in oil prices are expected to have an impact at the pump, but no one can be sure exactly when or how much prices will rise. In response to the OPEC+ announcement, President Joe Biden ordered the release of 10 million barrels of oil from the U.S. Strategic Petroleum Reserve. According to The Wall Street Journal, analysts say the release will have little impact on prices.
Currently, gas prices in the Duke City are about the same as a week ago, with the average price of unleaded in Albuquerque now at $3.62 a gallon, according to AAA data. Here’s a look at prices from select stations in the far northeast part of the city:
- The 7-Eleven/ALON station at 7843 Tramway Blvd. was charging $3.60 a gallon for regular unleaded, an increase from last week’s $3.39 a gallon. The station was charging $4 for mid-grade, $4.40 for premium, and $4.60 for a gallon of diesel. The price for mid-grade was more than 24 hours old, according to Google Maps.
- The price of regular unleaded at the Circle K/Phillips 66 at 6951 San Antonio Drive was $3.90 a gallon, 23 cents more than last week. Mid-grade was $4.40, premium $4.70, and diesel $4.86 a gallon, also up from last week.
- The price of regular unleaded at the Circle K/Shell gas station at 8101 Harper Drive also increased 23 cents since last week, now at $3.90 a gallon. Mid-grade increased to $4.40, and premium went up to $4.70 a gallon. Diesel increased 30 cents, now at $4.86 a gallon.
- A gallon of regular unleaded at the Circle K/Phillips 66 gas station at 5501 Alameda Blvd. went from $3.75 to $3.90 a gallon over the last week. Mid-grade increased from $4.25 to $4.40, and premium increased to $4.70 a gallon. Diesel increased 30 cents to $4.86 a gallon.
- The Chevron at 5980 Alameda Blvd. was charging $3.90 for a gallon of regular, the same as last week. Mid-grade also stayed the same at $4.36 a gallon, as did premium, still at $4.77 a gallon.
*Prices are rounded down to the nearest penny using AAA and Google Maps data.
