Key Currency Exchange Rates for Friday, 1/27/23

National Average Price for Regular Unleaded Current: $3.179; Month Ago: $3.495; Year Ago: $3.285. National Average Price for Diesel Current: $4.680; Month Ago: $5.178; Year Ago: $3.571.

National Average Price for Regular Unleaded Current: $3.808; Month Ago: $3.824; Year Ago: $3.751. National Average Price for Diesel Current: $4.463; Month Ago: $4.203; Year Ago: $5.040.

While U.S. crude inventories dropped to the lowest since October, gasoline stockpiles last week expanded for the first time since early June, indicating that consumption boosted by the summer driving season may be waning. OPEC’s rate of compliance with production cuts slipped last month to 75 percent, the lowest since the accord started in January, the IEA said. OPEC reported Thursday its output is increasing on more supplies from Libya, which is exempt from the deal. “Concerns about the persisting supply glut resurfaced after petro-nations reported growing oil output,” said Norbert Ruecker, head of commodities research at Julius Baer Group Ltd. in Zurich. “We maintain a neutral view and see oil prices trading sideways as growing shale output and stagnant western-world oil demand undermine the Middle East’s supply deal.” Click Read More below for more of the story.