AAA Daily Fuel Gauge Report for Friday, 4/27/18

American Dollar to Canadian Dollar = 0.753119; American Dollar to Chinese Yuan = 0.140270; American Dollar to Euro = 1.102268; American Dollar to Japanese Yen = 0.007036; American Dollar to Mexican Peso = 0.058948.

National Average Price for Regular Unleaded Current: $3.584; Month Ago: $3.543; Year Ago: $4.940. National Average Price for Diesel Current: $3.898; Month Ago: $3.987; Year Ago: $5.808.

“Prices are being driven up by tight supply due to high production outages in Venezuela plus the cuts implemented by OPEC and Russia,” said Carsten Fritsch, analyst at Commerzbank. “What is more, demand appears robust.” The United States has until May 12 to decide whether to quit a nuclear deal with Iran and reimpose sanctions against the third-largest producer in the Organization of the Petroleum Exporting Countries, tightening global supplies. OPEC’s supply curtailments and the threat of new sanctions are occurring as demand in Asia, the biggest oil-consuming region, has risen to a record. Click Read More below for additional information.