Key Currency Exchange Rates for Friday, 7/28/23

National Average Price for Regular Unleaded Current: $2.422; Month Ago: $2.250; Year Ago: $2.496. National Average Price for Diesel Current: $2.649; Month Ago: $2.554; Year Ago: $2.964.

The American Trucking Associations welcomed an announcement from the Department of Transportation that new heavy-duty trucks would be required to have automatic emergency braking technology. “ATA has long supported the use of AEB on all new vehicles,” said ATA Vice President of Safety Policy Dan Horvath. “With NHTSA’s recent regulation requiring AEB on all new passenger vehicles, this proposal for heavy-duty trucks is timely and appropriate. “The trucking industry supports the use of proven safety technology like automatic emergency braking,” Horvath said. “We look forward to reviewing this proposal from NHTSA and FMCSA and working with them as it is implemented.”

While oil investors are grappling with geopolitical risks, the potential impact of tensions in the Middle East is uncertain, Goldman Sachs Group Inc. said Tuesday. While the conflict between Iraq’s central government and the semi-autonomous Kurds cut crude flows through a Turkish pipeline, the disruption may be short lived. Meanwhile, OPEC sent its strongest signal yet that its output cuts will be extended until the end of 2018. The flow rate through the pipeline from Kurdish region to the Turkish port of Ceyhan was about 200,000 barrels a day, according to a port agent report. That was unchanged from Thursday, but down from about 600,000 barrels a day before the conflict began. U.S. gasoline inventories expanded by 908,000 barrels last week, while distillate supplies climbed by 528,000 barrels to 134.5 million barrels, according to the Energy Information Administration. Crude stockpiles declined for a fourth week, down by 5.731 million barrels to 456.5 million barrels, the data showed. Click Read More below for additional information.