National Average Price for Regular – Current: $2.662; Month Ago: $2.526; Year Ago: $2.380. National Average Price for Diesel – Current: $2.973; Month Ago: $2.945; Year Ago: $2.516.

The proposed coast-to-coast merger of Union Pacific and Norfolk Southern is bad for the industry, a rival CEO warned, and would give the transcontinental behemoth a dominant 50% share of all U.S. rail freight. “We’ve had lots of opportunities to be very clear that we’re opposed to this merger, and we don’t think it’s good for the industry,” said Katie Farmer, chief executive of BNSF Railway. “Make no mistake, this is a consolidation of almost 50% of all the rail volume…to one road. When you consolidate 50% of all rail volume that moves under one carrier, you eliminate, or significantly reduce, flexibility for customers, optionality, and ultimately there’s going to be fewer interchange points. You have one railroad that is looking to optimize their network, and based on what’s happened in the past, that is not always good for customers.”

Oil gained last week to rise above its 200-day moving average for the first time since May as concerns eased that efforts by the Organization of Petroleum Exporting Countries and its allies to curb output will be offset by rising production elsewhere. Police in Venezuela clashed with demonstrators after a vote Sunday to elect members of a new legislative body that President Nicolas Maduro insisted is needed to restore order after months of protests. “Depending on how the Trump administration decides to proceed going forward, of course that could have implications,” including potentially blocking imports of Venezuelan crude, said Harry Tchilinguirian, a commodities analyst at BNP Paribas SA in London. “It’s very unclear at this stage what course the U.S. administration will follow.” Click Read More below for additional details.