AAA Daily Fuel Gauge Report for Friday, 3/26/21

American Dollar to Canadian Dollar = 0.799771; American Dollar to Chinese Yuan = 0.153349; American Dollar to Euro = 1.198653; American Dollar to Japanese Yen = 0.009195; American Dollar to Mexican Peso = 0.050173.

Oil prices rose on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles, while expectations for an extended shutdown of a major North Sea crude pipeline also continued to bolster markets. Britain’s biggest pipeline from its North Sea oil and gas fields is likely to be shut for several weeks for repairs. On Wednesday morning, its operator said it was still considering repair options and reiterated that any repairs would take several weeks. Click Read More below for additional information.

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 1.2% in April after decreasing 2.2% in March. In April, the index equaled 111.7 (2015=100) compared with 113.1 in March. “The truck freight market remained soft in April as seasonally adjusted volumes fell for the second straight month,” said American Trucking Associations Chief Economist Bob Costello. “With a rebound in freight remaining elusive, it is likely that additional capacity will leave the industry in the face of continued softness in the market.” March’s decrease was revised down slightly from our April 23 press release. Compared with April 2023, the index fell 1.5%, which was the fourteenth straight year-over-year decline. In March, the index was down 1.3% from a year earlier.