Hurricanes, Cost of Crude Oil Boost Average Gas Price, AAA Reports

    ORLANDO, Fla.--Oct. 15, 2002--The nationwide average price of self-serve regular gasoline has increased 4.4 cents per gallon since mid-September, from $1.404 to $1.448 per gallon, AAA said today, bringing an end to a six-month streak of steady prices. Since April, the nationwide average gasoline price has hovered around 1.40 per gallon.
    The increase in the nationwide average gasoline price has been expected following a rise in the price of crude oil and brief interruptions to industry operations weeks ago due to hurricanes in the Gulf of Mexico.
    Since mid-September, gasoline prices rose an average 7.5 cents per gallon in the Midwest to $1.475. Prices have increased 6.6 cents to $1.394 in the Southeast, and moved 6.4 cents higher in the Great Lakes to $1.501 per gallon.
    Southwest gasoline prices have increased 3.8 cents per gallon to $1.409 since mid-September, while the Mid-Atlantic states have seen an average 3-cent increase to $1.442 per gallon. Prices in New England are up 1.1 cent per gallon to $1.463. Prices in the West are down an average .9 cent per gallon to $1.518.
    Nationwide, the price of self-serve, mid-grade averages $1.54, an increase of 4.9 cents per gallon since last month, and 10.8 cents higher than last year. Self-serve premium averages $1.596 per gallon, up 5.1 cents since mid-September, and 11.2 cents since last year.
    Average regional prices for self-serve regular in October of last year were: West, $1.606; New England, $1.391; Mid-Atlantic, $1.338; Southwest, $1.311; Great Lakes, $1.269; Midwest, $1.269; and Southeast, $1.257.
    The national average prices for self-serve regular unleaded gasoline for AAA's mid-October survey for the last five years are: 2001, $1.349; 2000, $1.522; 1999, $1.293; 1998, $1.066; and 1997, $1.264.
    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 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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