AAA Daily Fuel Gauge Report for Friday, 12/4/20

American Dollar to Canadian Dollar = 0.774435 American Dollar to Chinese Yuan = 0.158177 American Dollar to Euro = 1.235537 American Dollar to Japanese Yen = 0.009508 American Dollar to Mexican Peso = 0.053882

Futures in New York dropped as much as 0.8 percent after data showed American drillers added five working oil rigs last week, stoking fears over surging U.S. output. The May oil contract gained 1.5 percent last week before expiring Friday as OPEC producers said supply curbs should continue in order to revive investments in oil and gas production. In the U.S., explorers have added 23 rigs so far this month, bringing the total working rigs to 820 last week, Baker Hughes data showed. The nation’s crude production has more than doubled from the lows of a decade ago, topping 10 million barrels a day each week since early February.

National Average Price for Regular Unleaded Current: $2.115; Month Ago: $2.164; Year Ago: $2.595. National Average Price for Diesel Current: $2.393; Month Ago: $2.376; Year Ago: $3.009.