Price at the Pump: Quieter Second Half Of 2025 Expected

Saying the first six months of the year has been active when it comes to oil prices may be an understatement.  It should come as no surprise that trade has been one of the biggest pressures moving oil prices, but not the only one.  Patrick DeHaan with Gasbuddy.com said the Trump Administration's change in relationship with OPEC allowed for more oil production, when he called a "game changer".

“Without that, oil prices probably would not be anywhere near where they are today at about $65 a barrel," DeHaan said.  "OPEC had cut oil production back in 2023 and so to see OPEC raising production this year certainly has been surprising and a large part of why gasoline prices are lower."

How Different Will The Final Six Month Be?

When it comes to the 2nd half of the year is concerned, DeHaan says oil prices could struggle.

“As OPEC increased production will start to lead to more supply at the time of year that demand is starting to decline," DeHaan said.  "So, hopefully the second half of this, the year will be a little bit quieter than the first half in terms of geopolitical tensions, we'll still keep an eye on Russia, but for now, Russian oil output does continue at brisk levels, so I think that all is going to lead to a second half of 2025, at least for oil markets, maybe a little bit more bearish than the first half of the year.”

As of Tuesday morning, West Texas Crude was trading slightly lower at $67 per barrel, while Brent Crude was also lower, trading near $69 per barrel.

Remember to join us each Tuesday morning for your PNW Ag Network Price at the Pump.

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