Gas Prices Keep Mapping a Downward Course, AAA Says

ORLANDO, Fla., October 10, 2006

The nationwide average price of self-service regular gasoline has declined 37.8 cents per gallon since the middle of last month and is now $2.262 per gallon, according to AAA’s daily, on-line Fuel Gauge Report (www.aaafuelgaugereport.com). Prices have not been this low since March 3 when the national average price was $2.26 per gallon. 

Troy GreenAAA said the continuing slump in oil prices – with the price below $59 per barrel today – has allowed gasoline prices to fall.

The average price of self-serve regular was $2.64 one month ago. One year ago the price was $2.885 per gallon, AAA said.

According to AAA, Hawaii has the highest average gas price in the nation at $3.026 per gallon; although the price is finally on the verge of dropping below $3.00. Alaska and Nevada have the next highest average prices; at $2.817 and $2.639 per gallon, respectively.

Missouri has the lowest state-wide average gasoline price in the nation at $2.049 per gallon. Georgia has the next lowest price at $2.074 per gallon, followed by South Carolina with an average gas price of $2.075 per gallon.

Nationwide, the price of self-serve, mid-grade gasoline averages $2.401 per gallon, a decline from $2.803 per gallon in the middle of last month, and down from $3.06 one year ago. Self-serve premium averages $2.488 per gallon nationwide; down from $2.905 one month ago. Premium averaged $3.173 per gallon at this time last year.

The national average prices for self-serve regular unleaded gasoline for AAA’s mid-October survey for the last five years are: 2005, $2.885; 2004, $1.921; 2003, $1.565; 2002, $1.448; and 2001, $1.346.

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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