AAA Texas: Gas Prices Find Their Levels Very Close to Record Price

    HOUSTON--March 7, 2003--Gasoline prices remained relatively stable last week with regional prices either rising or falling by less than a penny per gallon, according to the Weekend Gas Watch, compiled by AAA Texas. The relative price stability comes less than a month after some Texas regions experienced record high prices. The Weekend Gas Watch monitors the average price of gasoline as popular destinations for motoring trips.
    The statewide average price for a gallon of regular unleaded self-serve is $1.587, which is three-tenths of a cent below last week's level, 12 cents above the price last month and 50 cents higher than last year. Gasoline in Corpus Christi and Dallas increased by only one-tenth of a cent while Austin-San Marcos, Ft. Worth and San Antonio saw fractional declines. The price of gas was unchanged from last week in Houston.
    "Factors, such as the possibility of war in Iraq and the on-going petroleum strike in Venezuela, still exist but the price stability indicates that worldwide markets have adjusted to them," said Carol Thorp, spokesperson for AAA Texas. "If international conditions remain the same, we would anticipate prices to remain close to their current levels in the coming week."

    Average prices as of 12:01 a.m., March 7, 2003:

Area                    Regular       Change         Record Price
----                   ---------    ----------     ----------------
Austin-San Marcos        $1.557     -0.4 cents     $1.579 (2/18/03)

Corpus Christi           $1.557     +0.1 cents     $1.590 (2/20/03)

Dallas                   $1.596     +0.1 cents     $1.666 (5/12/01)

Ft. Worth                $1.584     -0.8 cents     $1.660 (5/22/01)

Houston                  $1.588      Unchanged     $1.639 (5/12/01)

San Antonio              $1.547     -0.8 cents     $1.572 (2/15/03)