AAA Daily Fuel Gauge Report for Friday, 3/9/18

National Average Price for Regular Unleaded Current: $2.179; Month Ago: $1.978; Year Ago: $2.730. National Average Price for Diesel Current: $2.438; Month Ago: $2.408; Year Ago: $3.001.

Canada’s freight rail network could come to a grinding halt this week, inflicting a huge economic toll after the country’s two largest railroad operators on Sunday issued lockout notices to the Teamsters union that represents nearly 10,000 workers. Failing last-minute deals, both Canadian National Railway and Canadian Pacific Kansas City plan to lock out workers from the early hours of Thursday. It marks the first time that the country has faced a simultaneous labor stoppage at the railroad firms as they normally negotiate their labor agreements in alternate years. The stoppages could cripple the shipment of food grains, beans, potash, coal and timber which form a large part of Canada’s exports, while also impacting shipments ranging from petroleum products to chemicals and cars.

Global benchmark Brent crude topped $60 a barrel last month for the first time since July 2015, while West Texas Intermediate, the U.S. marker, is set for the highest close in two years as Saudi Arabia and Russia signaled support for extending supply cuts well into 2018. The market was also buoyed by conflict between the Iraqi central government and Kurdish forces that threatened crude production from northern fields in the OPEC nation. “U.S. stock draws have been leading and continue to lead the market higher,” said Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland. Click Read More below for additional information.