Gasoline Price Drops 2.4 Cents From April, AAA Reports
10 May 2000
Gasoline Price Drops 2.4 Cents From April, AAA Reports
ORLANDO, Fla.--May 9, 2000--Nationwide gasoline prices continued to fall in May, down an average 2.4 cents per gallon since mid-April, and are now 7.8 cents below the record high average price of $1.543 reached in March, AAA said today.AAA's May Fuel Gauge Report shows self-serve regular gasoline averages $1.465 per gallon nationwide. The May price is the third highest monthly price recorded by AAA. In April the average price was $1.489.
Although fuel prices remain high, the downward movement of prices in April and May prior to the start of the summer driving season is encouraging for motorists and the United States vacation travel industry, AAA said.
The average price of regular is up 30.8 cents per gallon since last May when the nationwide price was $1.157 per gallon.
Self-serve mid-grade now averages $1.551 per gallon, down 2.6 cents from April. Self-serve premium averages $1.612, dropping 2.7 cents.
Contrary to nationwide trends, the cost of self-serve regular moved higher in the Great Lakes region where prices are up 2.7 cents from last month, averaging $1.424 per gallon.
Gasoline is most expensive in the West at $1.612 per gallon, but is 4.6 cents less expensive than last month. Fuel is least expensive in the Midwest at $1.372, 0.7 cent lower than last month. One year ago the average price of self-serve regular in the West was $1.341, while in the Midwest it was $1.097 cents.
Other regional prices for self-serve regular are: New England, $1.482 per gallon, 5.1 cents lower than last month and 33.9 cents more than a year ago; Mid-Atlantic, $1.471, down 1.8 cents since last month and 36.2 cents higher than last year; Southwest, $1.419, down 2.9 cents from April and 24.9 cents higher than a year ago; and Southeast, $1.394, 2.9 cents lower than last month and 33.2 cents above last year.
The national average prices for self-serve regular gasoline for the last six months were: April, $1.489; March, $1.543 per gallon; February, 1.367 per gallon; January, $1.289 per gallon, December, $1.31; and November, $1.282.
The national average prices for May in the last nine years were: 1999, $1.157 cents per gallon; 1998, $1.098; 1997, $1.242; 1996, $1.307; 1995, $1.196; 1994, $1.105; 1993, $1.132; 1992, $1.139; 1991, $1.161.
AAA's Fuel Gauge Report is based on data from Oil Price Information Service - the nation's most comprehensive source of petroleum pricing information.
