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Gas Prices Tumble To Lowest Level Since 1994, AAA Says

17 February 1998

Gas Prices Tumble To Lowest Level Since 1994, AAA Says

    ORLANDO, Fla., Feb. 17 -- The national average price of
gasoline fell 4.5 cents in one month to reach its lowest point since spring of
1994, according to AAA.
    AAA's monthly Fuel Gauge Report shows the average price of self-serve
regular unleaded gasoline is $1.114 per gallon, 17.3 cents less than one year
ago.
    In the last five months, the price has fallen 17.4 cents to reach the
lowest level since May 1994 when the price was $1.105 per gallon.
    The average price of self-serve mid-grade unleaded is $1.209 per gallon,
3.2 cents less than last month and 15.7 cents less than one year ago.  Self-
serve premium is $1.262, down 4.5 cents from a month ago and 17.4 cents less
than last year.
    Self-serve regular unleaded is most expensive in the West at $1.245 per
gallon, 6.9 cents less than last month and 12.1 less than a year ago.  It is
least expensive in the Southeast at $1.039, 3.9 cents less than a month ago
and 17.6 cents less than last year.
    Other regional prices for self-serve are: New England, $1.159 per gallon,
down 4.7 cents in one month and down 16.8 cents from last year; Mid-Atlantic,
$1.113, down 4.3 from the previous month and 19.8 cents less than a year ago;
Great Lakes, $1.057, 1.7 cents less than last month and 20.6 cents less than
last year; Midwest, $1.049, 3.6 cents less than last month and down 21.7 cents
from a year ago, and Southwest, $1.096, down 4.8 cents in one month and 16.4
cents less than last year.
    The national average prices for self-serve regular unleaded gasoline for
the last six months were: January, $1.159 per gallon; December, $1.216;
November, $1.234; October, $1.264; September, $1.288, and August, $1.264.
    The national average prices for self-serve regular unleaded gasoline in
February for the last five years were: 1997, $1.287 per gallon; 1996, $1.129
per gallon; 1995, $1.118; 1994, $1.069; 1993, $1.093; and 1992, $1.049.
    AAA is a not-for-profit federation of 97 clubs with more than 1,000
offices providing more than 40 million members in the U.S. and Canada with
travel, insurance, financial and auto-related services.

SOURCE  American Automobile Association