National Average Gas Price Nearly Matches Pre-Iraq War Level, AAA's Fuel Gauge Report Shows

ORLANDO, Fla.--March 16, 2004--With the one year anniversary of the start of Operation Iraqi Freedom four days away, gasoline prices are nearly the same as one year ago, AAA's daily, online Fuel Gauge Report shows. The nationwide average price of self-serve unleaded gasoline is $1.720 today. This is half a cent higher than last year at this time when the average price was $1.715 per gallon.

Unlike a year ago, most of the fears concerning a possible disruption in world oil shipments due to a pending war are absent. Also missing as a cause of higher prices is last year's prolonged labor strike in Venezuela that hurt oil and gasoline exports from that country. Instead, cutbacks in OPEC oil production, persistent tight domestic inventories of crude oil, rising demand for gasoline and the annual switch to a variety of cleaner gasoline blends used during the summer months are pushing prices up, AAA said.

Today's price is 1.7 cents below the highest nationwide average price ever recorded by AAA of $1.737 per gallon reached on Aug. 30, 2004 of 2003.

Since mid-February, the national average gasoline price is up 8.3 cents per gallon. On a regional basis, gasoline prices have increased the most in the west and southwest. In western states, prices are an eye-popping 29.8 cents higher per gallon since the middle of last month and now average $1.966 per gallon. Prices are up an average of 10.3 cents per gallon in southwest to $1.676 per gallon.

Prices are up an average of 7.9 cents per gallon in the Midwest to $1.683 per gallon. New England prices are 6.1 cent higher since mid-February at $1.743 per gallon. In the Mid-Atlantic states prices have increased an average of 6 cents to average $1.705, and prices are up 7.3 cents in the Midwest to average $1.603 per gallon. Gasoline prices are nearly unchanged since last month in the Great Lakes region with prices down one-tenth of a cent to average $1.689 per gallon.

Nationwide, the price of self-serve, mid-grade averages $1.827 per gallon, an increase of 8.9 cents per gallon since last month, and .7 cent higher than last year. Self-serve premium averages $1.892 per gallon, up 9.1 cents since mid-February and .6 cent higher than one year ago.

Average regional prices for self-serve regular in mid-March of last year were: West, $1.93; Great Lakes, $1.742; New England, $1.681; Mid-Atlantic, $1.662; Southwest, $1.598; Midwest, $1.656; and Southeast, $1.561.

The national average prices for self-serve regular unleaded gasoline for AAA's mid-March survey for the last five years are: 2003, $1.715; 2002, $1.215; 2001, $1.435; 2000, $1.543; and 1999, 97 cents.

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 nearly 47 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.