AAA Daily Fuel Gauge Report for Friday, 8/12/22
National Average Price for Regular Unleaded Current: $3.978; Month Ago: $4.655; Year Ago: $3.186. National Average Price for Diesel Current: $5.060; Month Ago: $5.625; Year Ago: $3.294.
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AAA Daily Fuel Gauge Report for Friday, 12/8/23
National Average Price for Regular Unleaded Current: $3.185; Month Ago: $3.405; Year Ago: $3.329. National Average Price for Diesel Current: $4.144; Month Ago: $4.393; Year Ago: $5.000.
Saudi Retreat From U.S. Oil Market Cuts Exports to 30-Year Low
For a generation, the huge, whitewashed storage tanks at America’s largest oil refinery in Port Arthur, Texas, have stored almost nothing but Saudi crude. The plant is owned by Saudi Arabia’s state-run oil company, Aramco, and since it first bought a stake in 1988, the Motiva refinery guaranteed the kingdom a strategic foothold in the world’s largest energy market. The tankers carrying millions of barrels a month of Arab Light crude from Saudi export terminals to Port Arthur were testament to the strength of the energy and political ties binding Riyadh and Washington. All of a sudden, there are very few Saudi ships arriving in Texas. Since July, Aramco has constricted supply, attempting to drain the crude storage tanks at Motiva -- and many others across America -- part of a plan to lift oil prices, even at the cost of sacrificing its once prized U.S. market. Click Read More below for additional information.