RALEIGH, N.C. (WNCN) – The announcement by OPEC+, a group of major oil suppliers, to cut back on oil production is prompting concerns for price hikes at the pump.

The group announced on Wednesday that they would reduce global supply by 2 million barrels a day, the equivalent of two percent of the world’s supply.

Petroleum experts predict it could increase gas prices by 10-30 cents. It’ll tighten already-strained wallets.

“I do a lot of meal prepping so I get the same thing every single week and noticing that go up a good $20 or $40 and then obviously gas [has gone up],” said Lillie Brown.

CBS 17 caught up with Brown as she fueled before a multi-state trip to see family. She said the price of gas may influence her future travel.

“Maybe flying potentially just because gas is so expensive,” she said.

AAA reports gas prices were averaging $3.39 on Thursday. That’s eight cents higher than the average a week ago but lower than the $3.48 average one month ago.

“A lot of volatility in the markets has been the norm in 2022,” said Patrick De Haan, a petroleum expert with Gas Buddy.

He believes OPEC’s motivations may be simple — they want more money.

“They said it was because of a drop in oil prices or at least, I don’t think they actually gave a reason why,” said De Haan.

De Haan is optimistic North Carolina won’t hit its previous gas price peak.

“Even after the increase in OPEC’s production cuts are factored in, we’ll still be $1 per gallon lower than we were earlier this year, we could still go up, like I said 10 to 30 cents,” De Haan said.

The expected increase in cost comes on top of everything else people are already paying for.

“Christmas is coming, I’m going to have to spend less money because I’m paying for gas,” said Enzo Tejada while filling up several canisters with diesel.

Tejada works in construction and said he’s paying more for gas and diesel but isn’t making any more money to compensate.

“People are losing money. I’m losing money because I’m paying more for gas and I got to pay for Pampers too so everything is so expensive now,” he said.

While we wait for the impact of decreased oil production, drivers like Tejada focus their budgets on the essentials.

“The most important thing now is mortgage, kids, food, gas,” Tejada said.