Key Currency Exchange Rates for Friday, 10/21/22

National Average Price for Regular Unleaded Current: $3.597; Month Ago: $3.660; Year Ago: $3.532. National Average Price for Diesel Current: $3.920; Month Ago: $4.056; Year Ago: $4.015.

For a generation, the huge, whitewashed storage tanks at America’s largest oil refinery in Port Arthur, Texas, have stored almost nothing but Saudi crude. The plant is owned by Saudi Arabia’s state-run oil company, Aramco, and since it first bought a stake in 1988, the Motiva refinery guaranteed the kingdom a strategic foothold in the world’s largest energy market. The tankers carrying millions of barrels a month of Arab Light crude from Saudi export terminals to Port Arthur were testament to the strength of the energy and political ties binding Riyadh and Washington. All of a sudden, there are very few Saudi ships arriving in Texas. Since July, Aramco has constricted supply, attempting to drain the crude storage tanks at Motiva -- and many others across America -- part of a plan to lift oil prices, even at the cost of sacrificing its once prized U.S. market. Click Read More below for additional information.

National Average Price for Regular Unleaded Current: $3.794; Month Ago: $3.923; Year Ago: $3.417. National Average Price for Diesel Current: $5.368; Month Ago: $5.122; Year Ago: $3.643.