Average U.S. Gas Price Falls Below $3 Per Gallon, AAA's Daily Fuel Gauge Report Shows

ORLANDO, Fla.--Sept. 13, 2005--The nationwide average price of self-serve regular gasoline has dropped 10.1 cents per gallon since reaching a new record high of $3.057 on Sept. 5, the Monday of Labor Day Weekend, AAA's daily, online Fuel Gauge Report (http://www.fuelgaugereport.com) shows.

Today's nationwide average price of $2.956 per gallon is $1.115 more expensive than it was one year ago and 51.6 cents higher than one month ago.

The price of gasoline skyrocketed nationwide in the wake of destruction left by Hurricane Katrina. Crucial oil refineries, pipelines, petroleum shipping and off-shore oil drilling platforms were idled and/or damaged by the storm. This resulted in severe strain to the nation's gasoline and diesel fuel distribution system and higher prices throughout the nation.

Although gasoline prices have declined in all regions of the country since the beginning of last week, they are still sharply higher than they were one month ago and remain above $3 per gallon in many areas.

In New England the average price has gone from $2.509 to $3.166 per gallon in one month. The Mid-Atlantic region saw its average price go from $2.523 to $3.151 per gallon, and the average price moved from $2.563 to $2.957 per gallon in the Great Lakes states.

Gasoline prices have gone from $2.435 to $2.864 per gallon in the Southeast since mid-August. In the Southwest, the average price jumped from $2.477 to $2.939, and in the Midwest the price rose from $2.482 to $2.915. In the West, the average price went from $2.538 to $2.964 per gallon.

Nationwide, the price of self-serve, mid-grade gasoline averages $3.139 per gallon, an increase from $2.59 per gallon in the middle of last month, and up from $1.954 one year ago. Self-serve premium averages $3.253 per gallon, up from $2.685 per gallon one month ago and $2.026 one year ago.

The national average prices for self-serve regular unleaded gasoline for AAA's mid-September survey for the last five years are: 2004, $1.841; 2003, $1.687; 2002, $1.408; 2001, $1.537; and 2000, $1.58.

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 48 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 http://www.aaa.com.