Price of Self-Serve Regular Gas Hits All-Time Record, AAA Reports

ORLANDO, Fla.--March 23, 2004--Motorists are now paying an average of $1.738 per gallon for self-serve regular gasoline; the highest average price on record, according to AAA's daily, online Fuel Gauge Report (www.fuelgaugereport.com). The previous record of $1.737 was set on August 30 of last year.

AAA's Fuel Gauge Report Web site monitors the average price of gasoline nationwide, in all fifty states and in more than 250 metropolitan areas throughout the United States as a public service. Information on the site is updated each business day for AAA by Oil Price Information Service which obtains fuel prices from more than 60,000 locations daily.

AAA said a new record high price for regular gasoline - which is the most commonly used fuel - was expected to occur this year due to a combination of factors. These include:

-- rising consumption,

-- high crude oil prices,

-- insufficient domestic gasoline refining capacity,

-- complicated federal and state clean fuel regulations, and

-- chronically low inventories.

The nation's largest organization of motorists said it shares the concern of all Americans over the instability and high price of gasoline since the start of the decade. Unstable gasoline prices make budgeting for fuel costs extremely difficult for families and businesses, AAA said.

The motoring and leisure-travel organization said consumers can most effectively respond to high prices by seriously considering the purchase of more fuel efficient vehicles as they replace the vehicles they currently own.

Employers can contribute by exploring telecommunications technologies that can reduce the amount of fuel consumed by employees who commute by car.

And, state and federal government officials need to revisit policies that have resulted in more than 15 different varieties of gasoline being used across the United States each summer. While these "boutique" fuels have helped clean the air, they also have seriously hampered the efficient production and distribution of gasoline. The number of clean gasoline blends must be reduced while continuing to meet environmental goals.

AAA provides its 47 million members with travel, insurance, financial and automotive-related services. Since it's 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.