Low prices at the pump holding thanks to OPEC

March 28 (UPI) -- Uncertainty surrounding an OPEC-led production agreement is keeping a lid on crude oil prices to the benefit of U.S. motorists at the pump, AAA reported.

The motor club lists a national average retail price for a gallon of regular unleaded gasoline at $2.28, a fraction of a cent less than the previous day, but relatively unchanged from one month ago.

Retail gasoline prices usually start to increase in early spring and summer as improved weather conditions bring more travelers to the roads. A seasonal shift to a summer-blend of gasoline, which is more expensive to make because of steps needed to prevent evaporation, adds additional pressure at the pump.

This year, the market is offsetting some of the typical seasonal trends in gasoline prices. The average price for gasoline in the United States has declined 10 of the past 11 days as crude oil prices hold around $50 per barrel, about 9 percent below the peak for the year.

Crude oil prices were moving higher early Tuesday after a volatile session Monday, which was influenced by uncertainty surrounding the next move by the Organization of Petroleum Exporting Countries. OPEC in January started curbing production to offset a lopsided market, but held off on making a formal decision during a weekend meeting in Kuwait.

Mirroring the national trend, AAA in a weekly retail market report said the West Coast remained at even keel, but was still the most expensive region in the country. California had the highest state average in the Lower 48 with $2.98 per gallon. The region as a whole has posted the largest year-over-year increases in gasoline prices and the motor club said pressure could develop as regional inventories of gasoline decline.

The Great Lakes market, meanwhile, holds its distinction as the most volatile market in the country, with Michigan and Ohio posting the largest declines in weekly gasoline prices. Michigan gas prices declined nearly 3 percent from last week to dip to levels on par with the national average. That market is on the cusp of posting major gains, however, as refiners there move to the summer blend of gasoline next month.

Retail markets could get a jolt next month as OPEC meets again to consider whether or not to extend the production agreement. A decision made in November by OPEC lifted oil prices out of a historic decline that saw the price of oil drop below $30 per barrel.

AAA lists a record for a national average at $4.26 per gallon in May 2011.