U.S. gasoline prices fell from $5.01 in July 2022 to about $3.20 nationwide and could approach $2.50 as crude prices decline and OPEC+ increases output.
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OPEC+ to ramp up oil output even higher in August with eye on market share
Saudi Arabia, Russia and six other key members of the OPEC+ alliance announced on Saturday their decision to increase oil output in August by 548,000 barrels per day.