Key Currency Exchange Rates for Friday, 7/7/23

National Average Price for Regular Unleaded Current: $2.130; Month Ago: $2.181; Year Ago: $2.609. National Average Price for Diesel Current: $2.382; Month Ago: $2.381; Year Ago: $3.014.

Crude rebounded over 5 percent last month, recouping February’s losses, after U.S. President Donald Trump named hawkish officials to his government, signaling the nation may pursue a more hard-line stance toward Iran. Even so, concerns persist that a rapid increase in American production, which has topped 10 million barrels a day each week since early February, could undermine efforts by the Organization of the Petroleum Exporting Countries and its allies, which are trying to balance the market by cutting output. U.S. explorers cut the number of rigs by the most since November 2017 last week, bringing the total to 797, Baker Hughes data showed. Still, the count remains near the highest in three years, and with separate data showing nationwide crude inventories climbed 1.64 million barrels in the week ended March 23, jitters over increasing U.S. supplies remain. Click Read More below for additional information.

American Dollar to Canadian Dollar = 0.757687; American Dollar to Chinese Yuan = 0.149279; American Dollar to Euro = 1.174265; American Dollar to Japanese Yen = 0.009501; American Dollar to Mexican Peso = 0.047216.