Average Gas Price Reaches Highest Level This Year, AAA Says

ORLANDO, Fla. July 11, 2006

Rising global tension has pushed gasoline prices in the United States to their highest level of the year, and near their all-time high reached in the aftermath of Hurricane Katrina last September. 

Troy GreenThe nation’s largest organization for motorists said today’s nationwide average price for self-serve regular gasoline is $2.968 per gallon, according to AAA’s daily, on-line Fuel Gauge Report (www.aaafuelgaugereport.com). Prior to this week, the previous high price for the year was $2.934 per gallon reached on May 16. On Sept. 5 of last year – Labor Day Monday – prices hit an all-time record high of $3.057 per gallon.

AAA said events in Mexico, Iran, Iraq, Israel, India and North Korea have energy markets on edge and oil prices at elevated levels. The motor club urged motorists to do what they can to conserve fuel during their day-to-day activities, and to listen closely to what congressional candidates are saying about global security and cooperation, and their plans for America’s energy future.

The average price of self-serve regular was $2.899 one month ago. One year ago the price was $2.291 per gallon, AAA said.

According to AAA, Hawaii has the highest average gas price in the nation at $3.372 per gallon. California and Connecticut have the next highest average prices at $3.256 per gallon and $3.191 per gallon; respectively. In total, sixteen states and the District of Columbia have average retail prices in excess of $3 per gallon at this time.

South Carolina and Tennessee have the lowest state-wide average gasoline prices in the nation at $2.793 and $2.749 per gallon; respectively. Mississippi has the next lowest average price at $2.805 per gallon.

Nationwide, the price of self-serve, mid-grade gasoline averages $3.151 per gallon, an increase from $3.077 per gallon in the middle of last month, and up from $2.432 one year ago. Self-serve premium averages $3.264 per gallon, up from $3.189 one month ago. Premium averaged $2.521 per gallon at this time last year.

The national average prices for self-serve regular unleaded gasoline for AAA’s mid-July survey for the last five years are: 2005, $2.291; 2004, $1.904; 2003, $1.517; 2002, $1.396; and 2001, $1.426.

AAA’s Fuel Gauge Report is based on data from Oil Price Information Service, the nation’s most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.

As the nation’s largest motoring and leisure travel organization, AAA provides more than 49 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.

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