AAA Texas: Weekend Gas Watch; Gas Prices Surge

HOUSTON--May 7, 2004--The average price of gasoline surged this week following slight decreases last week, according to AAA Texas' Weekend Gas Watch.

The Texas average for a gallon of regular self-serve rose more than four cents to a record average of $1.73 a gallon. Last week, Corpus Christi posted the biggest decrease of more than two cents. This week, it posted the smallest increase of nearly three cents at $1.68 a gallon. All other cities on the Weekend's Gas Watch average $1.70 a gallon or more. Dallas tops the list at an average of $1.73 a gallon -- up nearly four cents compared to last week.

"The price of crude oil pushed to a 13-year high of more than $39 a barrel this week and speculation on wholesale markets is driving up the price of a gallon of gasoline," said Rose Rougeau, spokesperson for AAA Texas. "With higher prices and increasing demand, it's possible that the statewide average gasoline price could reach $1.80 a gallon by the end of this month."

AAA Texas' Weekend Gas Watch monitors the average price of gasoline at popular destinations for automobile trips.

Average Daily Prices as of 12:01 AM, May 7, 2004:

                                            New           Previous
  Area           Current    Change      Record Price    Record Price
  ----           -------    ------      ------------    ------------

National         $1.857  + 4.5 cents  $1.857 (5/6/04) $1.812 (4/29/04)

State            $1.730  + 4.3 cents  $1.730 (5/6/04) $1.690 (4/22/04)

Austin-San
 Marcos          $1.712  + 5.1 cents  $1.712 (5/6/04) $1.672 (4/21/04)

Beaumont         $1.708  + 4.8 cents  $1.708 (5/6/04) $1.677 (4/17/04)

Corpus Christi   $1.684  + 2.7 cents  $1.684 (5/6/04) $1.683 (4/17/04)

Dallas           $1.733  + 3.6 cents  $1.733 (5/6/04) $1.707 (4/22/04)

Fort Worth       $1.728  + 4.2 cents  $1.728 (5/6/04) $1.695 (4/21/04)

Galveston-       
Texas City       $1.709  + 2.9 cents  $1.709 (5/6/04) $1.686 (4/21/04)

Houston          $1.713  + 4.1 cents  $1.713 (5/6/04) $1.679 (4/22/04)

San Antonio      $1.707  + 5.0 cents  $1.707 (5/6/04) $1.669 (4/20/04)

AAA Texas, an affiliate of AAA National, has been serving Texans since 1902. Today, more than a million AAA Texas members benefit from the organization's roadside assistance service, travel agency, financial products, insurance products and services, automotive pricing, buying and financing, trip planning services, and traffic safety programs. Information about these products and services is available on AAA Texas' web site at www.aaa-texas.com.