AAA Daily Fuel Gauge Report for Friday, 12/17/21

National Average Price for Regular Unleaded Current: $2.867; Month Ago: $2.796; Year Ago: $1.895. National Average Price for Diesel Current: $3.083; Month Ago: $3.020; Year Ago: $2.551

Brent and West Texas Intermediate crude futures both slipped after the U.S. benchmark rose 2.7 percent on Tuesday, breaching $60 a barrel for the first time since June 2015. A pipeline run by Waha Oil Company that carries crude to Libya’s Es Sider terminal exploded Tuesday, reducing output by 70,000-100,000 barrels a day. The repair work will take about a week, according to people familiar with the situation. Meanwhile, Saudi Arabia is said to expect oil revenue to jump about 80 percent by 2023 to help the kingdom record its first budget surplus in a decade. “The market is having a counter-reaction to the jump yesterday,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. “It remains supported by the news out of Libya but at the same time liquidity is very poor.” Click Read More below for additional information.

American Dollar to Canadian Dollar = 0.783018; American Dollar to Chinese Yuan = 0.152749; American Dollar to Euro = 1.212853; American Dollar to Japanese Yen = 0.009604; American Dollar to Mexican Peso = 0.049673.