Happy July 4th! How oil prices will affect your summer road trip

Gas prices are at their highest point in four years for an Independence Day.

But some relief is in sight.

“The national gas price average has held fairly steady for the past 10 days, suggesting that U.S. demand is keeping pace with supply and stabilizing summer gas prices,” Jeanette Casselano, spokeswoman for motoring and travel organization AAA, said in a statement this week.

“However, elevated crude oil prices and other geopolitical concerns could tilt gas prices more expensive in the early fall despite an expected increase in global crude production from OPEC and its partners,” she added.

The Organization of Petroleum Exporting Countries, the multi-state cartel that controls much of the world’s oil production, said last month that its members had agreed to scale back production cuts that first began in 2016.

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