AAA Daily Fuel Gauge Report for Friday, 11/22/24

American Dollar to Canadian Dollar = 0.754710; American Dollar to Chinese Yuan = 0.143901; American Dollar to Euro = 1.181447; American Dollar to Japanese Yen = 0.009375; American Dollar to Mexican Peso = 0.045099.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 0.8% in July after falling 0.3% in June. In July, the index equaled 112.9 (2015=100) compared with 113.8 in June. June’s increase was revised lower from our July 18 press release. Compared with July 2022, the SA index fell 3%, which was the fifth straight year-over-year decrease. In June, the index was down 3.2% from a year earlier.

American Trucking Associations President and CEO Chris Spear urged Congress to take steps to exercise oversight over the implementation of the Infrastructure Investment and Jobs Act, ensuring that taxpayers and the supply chain get the maximum return on the $1.2 trillion of investment the legislation provides. “For 90 years, the ATA has helped Congress shape its understanding of our nation’s infrastructure needs and supply chain challenges and today’s oversight of both is welcome and timely,” Spear said. “Prior to IIJA’s passage, ATA testified 25 times before the House and Senate, sharing how the decaying state of our nation’s infrastructure is hamstringing America’s ability to compete with rising global powers, like China. In short, a first-world economy cannot survive a developing-world infrastructure.”