U.S. Gas Prices Continue to Set New Record Highs, AAA's Fuel Gauge Report Shows

ORLANDO, Fla.--Aug. 1, 20056, 2005--The nationwide average price of self-serve regular gasoline has set a new record high price everyday since August 8, when the price of self-serve regular reached $2.339 per gallon. Since that date the price has increased an additional 18.5 cents per gallon and is currently $2.524 per gallon, according to AAA's daily, online Fuel Gauge Report, http://www.fuelgaugereport.com.

The nation's largest organization for motorists said the nationwide average price of self-serve regular gasoline is 20.4 cents higher than one month ago and 65.5 cents higher than one year ago. Most of the increase is due to sharply higher crude oil costs, although inventories of crude oil appear to be more than adequate to meet current demand in the United States.

Gasoline prices are up across the country since the middle of last month.

In New England the average price went from $2.378 to $2.509 per gallon. The Mid-Atlantic region saw its average price go from $2.348 to $2.523 per gallon, and the average price moved from $2.323 to $2.563 per gallon in the Great Lakes states.

Gasoline prices have gone from $2.227 to $2.435 per gallon in the Southeast since mid-July. In the Southwest the average price jumped from $2.287 to $2.477, and in the Midwest the price rose from $2.257 to $2.482. In the West, the average price went from $2.408 to $2.538 per gallon.

Nationwide, the price of self-serve, mid-grade averages $2.679 per gallon, an increase from $2.463 in the middle of last month, and up from $1.974 one year ago. Self-serve premium averages $2.777 per gallon, up from $2.553 one month ago and $2.047 one year ago.

The national average prices for self-serve regular unleaded gasoline for AAA's mid-August survey for the last five years are: 2004, $1.859; 2003, $1.566; 2002, $1.405; 2001, $1.393; and 2000, $1.496.

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 more than 48 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 http://www.aaa.com.