AAA Daily Fuel Gauge Report for Friday, 2/14/25

National Average Price for Regular Unleaded Current: $3.448; Month Ago: $3.765; Year Ago: $3.378. National Average Price for Diesel Current: $5.132; Month Ago: $5.310; Year Ago: $3.632.

Futures advanced 0.9 percent in New York. American crude inventories tumbled by 6.5 million barrels last week, more than double the average estimate in a Bloomberg survey. Exports surged by the most on record as domestic explorers sent cargoes to foreign shores where they fetched higher prices. “Crude inventories are just taking a nose-dive,” Matt Sallee, who helps manage $16 billion in oil-related assets at Tortoise Capital Advisors LLC, said by telephone. The price gap that’s making American oil more attractive to overseas buyers is “supporting pretty robust exports.” Yet, gasoline stockpiles rose for a sixth week and diesel supplies unexpectedly edged higher. Click Read More below for additional information.

Crude oil prices were mixed in Asia on Monday as the market turned cautious ahead of a key OPEC meeting near the end of the week. U.S. West Texas Intermediate (WTI) crude futures dipped 0.42% to $58.70 a barrel. ICE Brent crude futures, the benchmark for oil prices outside the U.S., rose 0.47% to $63.77 a barrel. This week, market participants will focus on the Organization of Petroleum Exporting Countries highly-anticipated meeting on Thursday to see whether major producers plan to extend their current production-cut agreement. Click Read More below for additional information.