Student drivers may have to dig deep into their seat cushions for spare change this summer as oil prices are expected to rise again because of a cutback in oil production.

On Wednesday, ministers from the Organization of Petroleum Exporting Countries (OPEC) approved a decision to reduce oil production by 5 percent. Government officials and analysts said the cutback could weaken the American economy and increase the price of gasoline.

Secretary of Energy Bill Richardson said in a press release that he is concerned higher crude oil prices will lead to inflation and curb growth at a time when the American economy is showing signs of slowing down.

"It is disappointing that OPEC member governments decided to cut their oil production quotas by 1.5 million barrels per day. As both the United States and the European Union expressed, we remain concerned that any cut in production has the potential to lower stock levels and contribute to volatility in the market," Richardson said in the release.

Local businesses are expecting business to slow with the cutback in oil supply.

"The cutback will lower business in the future," said Jaytricia Nyman, employee at the Texaco in Pine Grove Mills. "Customers will stop coming as often because of the higher prices, but we'll have to remain competitive with other companies."

The cutback begins Feb. 1 and is expected to reduce production to 25.2 million barrels a day. OPEC is an 11-country cartel and currently supplies 40 percent of the world's oil. Its cartel is separate from Iraqi oil production, which also reduced its daily oil production last fall.

In a Department of Energy press release, OPEC ministers were quoted as saying the cutback was intended to stabilize the market and reach a target of $25 a barrel. The step is being taken because current crude oil supplies far exceed demand.

Nonetheless, with power shortages in California and natural gas prices at an all time high, students such as Adam Brown (junior-criminal justice) fear the cutback will cause an energy crisis and bring back the high gas prices from last year.

"I don't want to spend anymore on gasoline. I was in New York a month ago and the prices were already ridiculous," he said. "Everyone uses gasoline, the government should do something to make it easier for everyone."

The Energy Information Administration (EIA) forecasts gas prices around $1.50 per gallon during the summer season, the peak of oil consumption.

John Cogan, EIA spokesman, said the price is not a big jump from current prices, but is a significant increase above prices from a year ago, which were under $1.

In response to fears of an energy crisis, Cogan said not to worry just yet.

"The crisis in California and the price of natural gas have an indirect effect on the price of gasoline in regards to economic prices," Cogan said. "If the economy continues to roll along well, gas prices are unlikely to jump drastically."

Some students are ready to accept a possible price increase.

"Nobody likes it when prices go up, but we don't have a choice," Steve Brown (senior-marketing) said. "I'm just going to bite my lip and deal with it."