AAA Daily Fuel Gauge Report for Friday, 8/12/22

National Average Price for Regular Unleaded Current: $3.122; Month Ago: $3.204; Year Ago: $3.462. National Average Price for Diesel Current: $3.566; Month Ago: $3.571; Year Ago: $4.451.

American Dollar to Canadian Dollar = 0.797116; American Dollar to Chinese Yuan = 0.148312; American Dollar to Euro = 1.171119; American Dollar to Japanese Yen = 0.008988; American Dollar to Mexican Peso = 0.056315.

The U.S. jobs report topped estimates last week, increasing confidence in the world’s biggest economy, giving a boost to the outlook for energy demand and driving benchmark crude prices up 3.2 percent on Friday. American oil explorers idled four rigs last week after six consecutive increases in drilling, easing fears over surging shale production. Prices were 0.4 percent lower Monday. “Employment is the key driver of oil demand, as more people at work means more commutes and, in consequence, rising road fuel use,” said Norbert Ruecker, head of commodity research at Julius Baer Ltd. in Zurich. Click Read More below for additional information.