Gasoline prices likely to remain high through winter

BISMARCK, N.D. (KVRR/KCND) – North Dakota’s mineral resources director says gasoline prices are expected to remain high for the foreseeable future.

Lynn Helms says that’s because OPEC decided to stick to its current production plan, even though the Biden administration asked OPEC in November to increase production.

“That’s just how volatile this thing can be, which really means prices are going to stay pretty high through the winter” Helms said.

“Unless some big surprise comes out of OPEC, prices look strong through the winter.  We’re not going to see relief in gasoline prices or diesel prices. Sorry, consumers.”

Helms also says U.S. crude oil stocks are very low. A year ago, those reserves were very high.

The price for North Dakota crude oil is now over $74 per barrel.