AAA Daily Fuel Gauge Report 6/27/25

National Average Price for Regular Unleaded Current: $3.077; Month Ago: $2.985; Year Ago: $2.085. National Average Price for Diesel Current: $3.208; Month Ago: $3.125; Year Ago: $2.420.

Oil traded near the highest level in more than two years as political upheaval in top crude exporter Saudi Arabia reverberated through a market where prices were already elevated by signs of tightening supply. Investors have piled into oil as a shake-up of the ruling elite in OPEC’s biggest producer was seen to consolidate power with Crown Prince Mohammed bin Salman, who backs extending the group’s output cuts aimed at clearing a global glut. The purge also raised concern over instability in the kingdom, supporting a geopolitical-risk premium on crude that’s emerged with heightened tensions surrounding nations such as Iraq and Iran. Oil’s gained more than 20 percent since the beginning of September on signs global supplies are tightening and the Organization of Petroleum Exporting Countries and its allies may prolong their output deal past March. Click Read More below for additional information.

Futures lost 0.3 percent in New York after rebounding Tuesday from the biggest drop in a week. Motor fuel stockpiles gained by 1.4 million barrels last week, while crude inventories fell by 3.6 million barrels, the American Petroleum Institute was said to report. Energy Information Administration data Wednesday is forecast to show both gasoline and crude stockpiles decreased. U.S. crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, dropped by 462,000 barrels last week, said the API, according to people familiar with the data. Nationwide crude inventories probably decreased by 3.48 million barrels last week, while gasoline supplies slid 1.25 million, according to analysts surveyed by Bloomberg. Click Read More below for additional detail.