AAA Daily Fuel Gauge Report for Friday, 3/8/24

American Dollar to Canadian Dollar = 0.764958; American Dollar to Chinese Yuan = 0.148050; American Dollar to Euro = 1.006420; American Dollar to Japanese Yen = 0.007212; American Dollar to Mexican Peso = 0.048107.

Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and should remain, Iraqi Oil Minister Jabbar al-Luaibi said Saturday. Yet, Brent crude at $70 a barrel may be giving fresh stimulus to U.S. shale-oil drillers to boost output, according to the International Energy Agency. Oil has extended gains after a second annual advance as the Organization of Petroleum Exporting Countries and its allies curb supply to drain a global glut. Though they have said the historic deal will run until the end of this year, OPEC is “very likely to cut short” the pact if markets become balanced, JP Morgan Securities said in a report. Click Read More below for additional information.

National Average Price for Regular – Current: $2.523; Month Ago: $2.543; Year Ago: $2.285. National Average Price for Diesel – Current: $2.961; Month Ago: $2.946; Year Ago: $2.518.