NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — OPEC and its allies, known as OPEC+, announced earlier this month that they will make their largest cut in output since 2020 to support the overall oil market. Though that move hasn't impacted the pump yet, it may mitigate traditional seasonal decreases.
"That really hasn't provided much of an impact in terms of gas prices to date," said Shawn Steward with AAA Kansas. "What seems to be balancing that out is the continued concerns with the global economy, in terms of, will a recession impact global demand for crude oil? That's kept crude oil prices fairly reasonable."
Fall and winter tend to be times when some relief is felt at the pump.
"As we head into fall and winter months here domestically, it is typically a lower demand season for gasoline," Steward said. "Just fewer people out driving."
More than half of the price at the pump can be attributed to crude oil prices.
"We still have ongoing lockdowns due to COVID in China, which can impact global demand," Steward said. "There's always, this time of year, hurricanes that could impact supply. There's the Russian situation with oil, based on their war with Ukraine. There are a lot of factors still out there that can impact the crude oil market and the price that we see at the pumps."
Reno County was still one of the least expensive counties in Kansas as of the weekend, with average gas prices in the county at $3.33 a gallon.