AAA Daily Fuel Gauge Report for Friday, 2/5/21

National Average Price for Regular – Current: $2.514; Month Ago: $2.661; Year Ago: $2.246. National Average Price for Diesel – Current: $2.732; Month Ago: $2.683; Year Ago: $2.376.

Futures were little changed in New York and are up 4.8 percent this month, after rallying 9.4 percent in September. U.S. crude inventories probably declined for a fifth time in six weeks, according to a Bloomberg survey before government data due Wednesday. Saudi Arabian Crown Prince Mohammed bin Salman said last week that he backed prolonging supply curbs, following a similar endorsement by Russian President Vladimir Putin earlier this month. Global benchmark Brent crude this month topped $60 a barrel for the first time since 2015 on hopes the Organization of Petroleum Exporting Countries and partners including Russia will prolong their curbs aimed at eliminating a glut. Prices were also boosted by fighting between Iraqi government troops and Kurdish forces in the oil-rich Kirkuk region. Still, the potential for continued supplies from U.S. shale fields is a concern. Click Read More below for additional information.

National Average Price for Regular – Current: $2.474; Month Ago: $2.548; Year Ago: $2.198. National Average Price for Diesel – Current: $2.840; Month Ago: $2.802; Year Ago: $2.426.