AAA Daily Fuel Gauge Report for Friday, 10/30/20
National Average Price for Regular Unleaded Current: $2.147; Month Ago: $2.182; Year Ago: $2.602. National Average Price for Diesel Current: $2.373; Month Ago: $2.391; Year Ago: $3.001.
https://gasprices.aaa.com/
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The Iran Deal Is Dead; Here’s What That Means for Crude Oil Prices
Short term, oil-pricing volatility will continue. Traders will likely consider any forward interruption – perceived or actual – in Iranian crude export flow as upward pressure on global prices. If this happens and JCPOA is not immediately closed, (i.e., should those second and third possible scenarios I mentioned play out), there will be a pullback. Overall, other factors have been contributing to an increasing floor for the oil-pricing band, supported by continuing OPEC production problems in Venezuela, Nigeria, and Libya. Click Read More below for additional information.
ATA Truck Tonnage Index Contracted 1.9% in November
“The frustratingly choppy freight environment continued in November,” said ATA Chief Economist Bob Costello. “Since hitting a low in January of this year, tonnage is up a total of 1.1%, but the path has been fraught with nice gains one month only to come back down the next. The good news is that the overall trend this year is up, albeit at a slow rate.” In November, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 112.5 compared with 114.6 in October. The index, which is based on 2015 as 100, was down 1% from the same month last year. The not seasonally adjusted index, which calculates raw changes in tonnage hauled, equaled 109.6 in November, 9.6% below October. The seasonally adjusted decrease follows a sequential 1.2% gain in October, which was unchanged from the November 19 press release.