AAA Daily Fuel Gauge Report for Friday, 3/12/21

National Average Price for Regular – Current: $2.521; Month Ago: $2.456; Year Ago: $2.351. National Average Price for Diesel – Current: $2.921; Month Ago: $2.836; Year Ago: $2.532.

Oil edged up to about $49 a barrel on Monday as fewer drilling rigs were added in the United States, helping ease concerns that surging shale supplies will undermine OPEC-led production cuts. U.S. drillers added two oil rigs in the week to July 14, bringing the total to 765, Baker Hughes (BHGE.N) said on Friday. RIG-OL-USA-BHI Rig additions in the past four weeks averaged five, the slowest pace since November. Expectations that a long-awaited crude market rebalancing was under way was also bolstered by the sharp drop in U.S. crude inventories in the week to July 7.

National Average Price for Regular Unleaded Current: $2.378; Month Ago: $2.172; Year Ago: $2.571. National Average Price for Diesel Current: $2.618; Month Ago: $2.480; Year Ago: $3.008.