AAA Daily Fuel Gauge Report for Friday, 12/02/22

American Dollar to Canadian Dollar = 0.738438; American Dollar to Chinese Yuan = 0.138380; American Dollar to Euro = 0.982007; American Dollar to Japanese Yen = 0.006784; American Dollar to Mexican Peso = 0.051183.

National Average Price for Regular Unleaded Current: $3.099; Month Ago: $3.181; Year Ago: $3.405. National Average Price for Diesel Current: $3.563; Month Ago: $3.586; Year Ago: $4.393.

American Trucking Associations’ Technology & Maintenance Council and Decisiv Inc. said combined parts and labor expenses fell 1.4% during the fourth quarter of 2023. In the latest Decisiv/TMC North American Service Event Benchmark Report, TMC and Decisiv found that 25 key VMRS systems dipped in the final quarter of 2023, reversing a 2.1% increase the previous quarter. The decrease was driven largely by parts costs, which dropped 2.2% in the fourth quarter of 2023 while labor costs fell 0.2%. While quarter-over-quarter parts and labor costs both declined in the last three months of the year, the parts-to-labor ratio held steady at about 1.5 for the past year. On a year-over-year basis, combined parts and labor costs in final quarter of 2023 were 0.2% higher than the same quarter in 2022. However, in the annual comparison, a 2.2% drop in parts prices was offset by a 4.0% rise in labor costs.