AAA Daily Fuel Gauge Report for Friday, 5/21/21

National Average Price for Regular Unleaded Current: $3.044; Month Ago: $2.885; Year Ago: $1.968. National Average Price for Diesel Current: $3.181; Month Ago: $3.078; Year Ago: $2.413.

American Dollar to Canadian Dollar = 0.764700 American Dollar to Chinese Yuan = 0.160992 American Dollar to Euro = 1.093382 American Dollar to Japanese Yen = 0.008060 American Dollar to Mexican Peso = 0.061375

Futures in New York rose as much as 1.2 percent after closing at the lowest since March 21 Tuesday. U.S. crude inventories fell by 4.16 million barrels last week and gasoline dropped by 1.93 million, the American Petroleum Institute was said to report Tuesday. Russia believes that its accord to cut production alongside OPEC and other producers should be extended, a Russian government official said. “The market mood, despite recent OPEC rhetoric, was bearish, and the API headline allowed oil at the end of the session to limit losses,” said Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA in London. The market faces “a longer re-balancing period than most had hoped for.” click Read More below for additional detail