Nationwide Gas Price Surges to New Highs as Motorists Plan Memorial Day Trips, AAA Reports

ORLANDO, Fla.--May 1, 20048, 2004--The national average price of self-serve regular gasoline is within a whisker of $2 per gallon at $1.999, according to AAA's daily, online Fuel Gauge Report (www.fuelgaugereport.com). The average national price is now 49.6 cents per gallon higher than it was one year ago when the average price was $1.503.

AAA said average gasoline prices are in excess of $2 per gallon in 22 states with California motorists paying the most at $2.30 per gallon. AAA said membership surveys suggest consumers may begin altering their driving patterns if gasoline prices stay above $2 for most of the summer, and will begin to actively consider switching to more fuel efficient vehicles.

Altered consumer behavior does not include canceling long-planned Memorial Day driving trips, however, since the nation's largest organization of motorists also reported today that a record 30.9 million travelers plan to vacation by car during the holiday, an increase of 3.4 percent over last year.

Much of the cause for today's high gasoline prices can be traced to oil production cutbacks made by OPEC countries in March and April, rising demand for gasoline as the US economy improves and the summer driving season approaches, and the nation's complex system of local clean gasoline regulations that are crimping gasoline supply lines, AAA said.

Since mid-April, the national average gasoline price is up 19.6 cents per gallon. On a regional basis, gasoline prices have increased the most in the last month in the Western states where prices are 35.7 cents higher and average $2.235 per gallon. Prices are up an average of 26.8 cents per gallon in the Great Lakes since mid-April to $2.058 per gallon.

Prices are an average of 25.5 cents per gallon higher in New England this month at $2.008 per gallon. Midwest prices are 25.1 cents higher since mid-April, and now average $1.988 per gallon. In the Mid-Atlantic states, prices have increased an average of 23.6 cents to average $1.976 per gallon. Prices are up 21.2 cents in the Southwest to average $1.943 per gallon. Gasoline prices increased the least - 19.9 cents - in the Southeast to $1.888 per gallon.

Nationwide, the price of self-serve, mid-grade averages $2.123 per gallon, an increase of 20.9 cents per gallon since last month, and 52.8 cents per gallon higher than last year. Self-serve premium averages $2.20 per gallon, up 21.7 cents since mid-April and 54.7 cents higher than one year ago.

Average regional prices for self-serve regular in mid-May of last year were: West, $1.63; Great Lakes, $1.454; New England, $1.55; Mid-Atlantic, $1.508; Southwest, $1.476; Midwest, $1.459; and Southeast, $1.38.

The national average prices for self-serve regular unleaded gasoline for AAA's mid-May survey for the last five years are: 2003, $1.503; 2002, $1.40; 2001, $1.718; 2000, $1.465; and 1999, 1.157 cents.

AAA's Fuel Gauge Report is based on data from Oil Price Information Service, the nation's most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.

As the nation's largest motoring and leisure travel organization, AAA provides 47 million members with travel, insurance, financial and automotive-related services. Since its 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. AAA clubs can be visited on the Internet at www.aaa.com.