AAA Reports Gas Prices Fell Since Mid-September

MINNEAPOLIS, Oct. 14, 2003 -- The nationwide average price of self- serve regular gasoline has declined 12.4 cents per gallon since mid-September and now averages $1.565. In addition, after reaching a new record high price of $1.737 per gallon on August 30, 2003, the nationwide average pump price has fallen 17.2 cents.

"The continued downward movement of gas prices slowed to a crawl this week and, in some regions, has turned into recent price increases," said Dawn Duffy, AAA spokesperson. "Analysts point to regional supply issues in the Midwest and Great Lakes areas, the price of crude oil trading at more than $32 per barrel, growing concern of OPEC's upcoming production cut on November 1, continuing violence in Iraq and Israel, and worries over Iran's nuclear program."

Reports for October 14, 2003, reflect the following average prices per gallon for self-serve, regular unleaded gas:

                                   Current        Month Ago      Year Ago
   National                         $1.56           $1.69         $1.45
   Iowa                             $1.49           $1.61         $1.43
   Cedar Rapids                     $1.44           $1.58         $1.39
   Davenport/Moline/Rock Island     $1.52           $1.64         $1.42
   Des Moines                       $1.48           $1.64         $1.48
   Sioux City                       $1.47           $1.58         $1.40
   Waterloo/Cedar Falls             $1.50           $1.57         $1.40

AAA's Fuel Gauge Report is based upon data from the Oil Price Information Service, the nation's most comprehensive source of petroleum pricing statistics.

AAA offers automotive, travel, insurance and financial services to more than 45 million members in the United States and Canada. AAA Minnesota/Iowa is part of The Auto Club Group, which has 4.1 million members in eight Midwest states.