AAA Texas: Statewide Price Increases Enter Second Week

    HOUSTON--June 20, 2003--For the second consecutive week, gasoline prices increased across Texas as retailers attempt to stabilize profits in the face of rising wholesale prices, according to the Weekend Gas Watch, compiled by AAA Texas. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    The statewide average price for a gallon of regular unleaded self-serve is $1.407 which is a 1.9 cents higher than last week's level, 2.5 cents above the price last month and 8.6 cents higher than last year. Of the major metropolitan areas in Texas, Dallas had the highest price with an average of 1.417 per gallon, while motorists in Corpus Christi have the lowest price of $1.353.
    "Throughout the month of May, prices at the pump gradually moved lower across Texas even though wholesale prices were inching up," said Rose Rougeau, spokesperson for AAA Texas. "With the start of the summer driving season, dealers have raised prices to stabilize profits while taking advantage of higher demand. This trend could continue through the July 4th holiday weekend."

Average prices as of 12:01 a.m., June 20, 2003:

Area                     Regular        Change        Record Price
-----                   --------      ----------     ---------------  
Austin-San Marcos        $1.371       +2.3 cents     $1.580 (3/19/03)
Corpus Christi           $1.353       +4.6 cents     $1.590 (2/20/03)
Dallas                   $1.417       +2.7 cents     $1.666 (5/12/01)
Fort Worth               $1.409       +1.7 cents     $1.660 (5/22/01)
Houston                  $1.398       +1.7 cents     $1.639 (5/12/01)
San Antonio              $1.368       +3.1 cents     $1.582 (3/18/03)