Gas prices on the rise following OPEC meeting

BUFFALO, N.Y. (WKBW) - Get ready to pay more at the pump.

On Monday, AAA Western and Central New York announced the national average price for regular unleaded gasoline rose five cents from the previous week to $2.18 per gallon.

The New York State average is $2.39 per gallon, up three cents from the previous week. A year ago, the NYS average was $2.32.

Western New York lags behind the state average; in Buffalo the average price for regular unleaded gasoline is $2.34, up one cent from the previous week.

Other average gas prices:

* Rochester - $2.33, up one cent

* Rome - $2.34, up one cent

* Syracuse - $2.27 up two cents 

The increase in gas prices follows last week's OPEC meeting when the 14 member countries reached an oil production agreement.

Beginning January 1, OPEC will cut oil production by 1.2 million barrels per day -- that's one percent of total global oil production. The goal is to rebalance the oil market after a production surplus has pushed prices low over recent years.

 

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