AAA Daily Fuel Gauge Report for Friday, 1/24/25

National Average Price for Regular Unleaded Current: $4.255; Month Ago: $4.868; Year Ago: $3.166. National Average Price for Diesel Current: $5.319; Month Ago: $5.780; Year Ago: $3.276.

Futures gained 1 percent in New York after rising 1.6 percent the previous two sessions. The IEA boosted its forecast on stronger-than-expected consumption in Europe and the U.S., and said that inventories of refined products are subsiding to their five-year average. A six-month extension to supply curbs from the end of March is one of the options being considered by OPEC and its allies, according to a person familiar with the matter. Oil in New York has averaged about $49 a barrel this year as efforts to drain a global glut by the Organization of Petroleum Exporting Countries and partners including Russia are stifled by rising shale output. U.S. crude inventories expanded by 6.18 million barrels last week, according to industry data, as oil processors gradually restarted following Harvey. Click Read More below for more of the story.

National Average Price for Regular Unleaded Current: $2.398; Month Ago: $2.237; Year Ago: $2.544. National Average Price for Diesel Current: $2.636; Month Ago: $2.533; Year Ago: $2.990.