AAA Daily Fuel Gauge Report for Friday, 3/11/22

Retailers and manufacturers are seeking to mitigate a potentially multibillion-dollar hit if members of the International Longshoremen’s Association go on strike beginning Oct. 1 at 13 of the nation’s major East Coast and Gulf Coast ports. The contract between the ILA and the United States Maritime Alliance, which negotiates on behalf of management of the ports, terminals and shipping lines, is due to expire at midnight on Sept. 30. The contract covers 25,000 workers and ports stretching from Boston to Houston, the ILA said. Billions of dollars worth of imported goods, from cars and light trucks to electronics to food, clothing, jewelry and agricultural products come into the U.S. through East Coast and Gulf Coast ports.

American Dollar to Canadian Dollar = 0.736701; American Dollar to Chinese Yuan = 0.141727; American Dollar to Euro = 1.115874; American Dollar to Japanese Yen = 0.006928; American Dollar to Mexican Peso = 0.051637.

Futures were little changed in New York after falling 0.6 percent on Wednesday. Prince Mohammed said in an interview with Bloomberg News in Riyadh that "of course" he wanted to extend OPEC’s production cuts in 2018, making it all but certain the group and its allies will roll over the curbs at a meeting next month. Oil is holding gains above $50 a barrel as speculation mounts that supply curbs by members of the Organization of Petroleum Exporting Countries and its allies including Russia will be prolonged when they meet in Vienna on Nov. 30. In Iraq, the state oil company is working with a Kurdish firm to resume pumping at two disputed fields after government troops recaptured them from Kurdish forces. Click Read More below for additional information.