AAA Daily Fuel Gauge Report for Friday, 7/29/22

American Dollar to Canadian Dollar = 0.736390; American Dollar to Chinese Yuan = 0.140082; American Dollar to Euro = 1.077834; American Dollar to Japanese Yen = 0.006924; American Dollar to Mexican Peso = 0.057349.

National Average Price for Regular Unleaded Current: $2.674 Month Ago: $2.351 Year Ago: $2.185 National Average Price for Diesel Current: $2.701 Month Ago: $2.516 Year Ago: $2.362

Members of the Organization of Petroleum Exporting Countries (OPEC) are discussing an agreement that would raise oil output by 300,000 to 600,000 barrels a day (bpd) over the next few months, Bloomberg reported, citing people briefed on the talks. That is well below the 1.5 million bpd uptick in production touted a few weeks ago, reducing investor fears of a significant slowdown in rebalancing in oil markets, which could potentially hurt oil prices. Click Read More below for additional information.