Average Gas Price Edges Higher On Mid-Summer Demand, Fla. AAA Says

    ORLANDO, Fla.--July 16, 2002--While remaining remarkably stable since April, the nationwide average price of gasoline is poised for a mid-summer increase, AAA said today.
    Tightening inventories of gasoline in the west and in some mid-western and Great Lakes markets -- especially those required to use cleaner-burning reformulated gasoline -- are pushing prices somewhat higher. This should increase the nationwide average price of self-serve regular gasoline above its current level of $1.396 per gallon over the next few weeks. The nationwide average price of gasoline has not been above $1.40 per gallon since June 5 when the price was $1.401 per gallon, AAA's daily, online Fuel Gauge Report shows.
    In mid-July of 2001, the nationwide average price of self-serve regular gasoline was $1.437 per gallon. Last month, the average price was $1.383, AAA said.
    Since mid-June, prices increased an average 3.4 cents per gallon in the Midwest to $1.381. In the West, gasoline prices are up 2.4 cents to $1.517. Prices in the Great Lakes region are up 2 cents to $1.411. Southwestern gasoline prices increased 1.8 cents to $1.362 since mid-June.
    Average gas prices dropped 1.5 cents per gallon in the Mid-Atlantic region to $1.386; fell 1.2 cents per gallon in New England to $1.398; and declined .03 cent per gallon in the Southeast to $1.312 per gallon.
    Nationwide, the price of self-serve, mid-grade averages $1.482, an increase of 1.4 cents per gallon since last month, and 4.4 cents less expensive than last year.
    Self-serve premium averages $1.535 per gallon, up 1.4 cents since mid-June, and 4.5 cents lower than one year ago.
    Average regional gasoline prices in July of last year were: West, $1.574; New England, $1.563; Mid-Atlantic, $1.488; Southwest, $1.376; Midwest, $1.345; Great Lakes, $1.34; and Southeast, $1.31.
    The national average prices for self-serve regular unleaded gasoline for AAA's mid-July survey for the last five years are: 2001, $1.437; 2000, $1.577; 1999, $1.174; 1998, $1.099; and 1997, $1.233.
    AAA's Fuel Gauge Report is based on data from Oil Price Information Service -- the nation's most comprehensive source of petroleum pricing information.
    As the nation's largest motoring and leisure travel organization, AAA provides its more than 45 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.
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