AAA Daily Fuel Gauge Report for Friday, 2/24/23

Futures in London slipped 0.2 percent, erasing earlier gains. Output limits should remain through 2018 as re-balancing may be achieved next year, Saudi Arabia’s Energy Minister Khalid Al-Falih said in…

National Average Price for Regular Unleaded Current: $3.044; Month Ago: $2.885; Year Ago: $1.968. National Average Price for Diesel Current: $3.181; Month Ago: $3.078; Year Ago: $2.413.

First quarter results were negatively affected by a mix shift, which reduced demand for priority services, increased demand for deferred services, and constrained yield growth. In addition, higher operating expenses and one fewer operating day negatively affected the quarter’s results. A reduction of structural costs from the company’s DRIVE program initiatives partially offset these factors. “Despite a challenging quarter, we remain focused on transforming our network, improving our efficiency, lowering our cost-to-serve, and enhancing our ability to adapt with speed to evolving market dynamics,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “Overall, I remain confident in the value-creation opportunities ahead as we focus on reducing our structural cost, growing revenue profitably, and leveraging the insights from our vast collection of data as we continue to build the world’s most flexible, efficient and intelligent network.”