Gas Price Increasing On Expected OPEC Oil Cutback, AAA Reports
17 January 2001
Gas Price Increasing On Expected OPEC Oil Cutback, AAA Reports
ORLANDO, Fla.--Jan. 16, 2001--Nationwide, the average price of regular unleaded gasoline is up slightly from one month ago in advance of tomorrow's expected announcement of a cut in crude oil production by OPEC nations, AAA said today.Today's average price of self-serve regular gasoline is $1.473, up .4 cent from $1.469 on December 16, and 18.3 cents higher per gallon than last year, AAA's daily online Fuel Gauge Report shows. Regionally, price movements have been mixed across the United States during the last month.
(EDITOR'S NOTE: national, state and local prices can be downloaded on the AAA NewsRoom - http://www.aaa.com/news.)
Although gasoline prices had been falling during the Christmas and New Year holiday, they turned upward again in recent days on the expectation that OPEC countries will cut oil production in response to slowing economic activity in the United States. OPEC countries formally meet tomorrow in Vienna.
During the last month, prices increased 6.31 cents in the Great Lakes region to average $1.539. Prices are up an average 1.3 cents in the Mid-West to $1.467 since mid-December.
In the West, gasoline costs 9.2 cents less than in December, and now averages $1.593. Prices fell an average 7.2 cents in New England to average $1.524. Prices are down 4.9 cents in the Mid-Atlantic region and average $1.475. In the Southwest, prices fell 4.5 cents during the month to $1.42 per gallon. Prices declined the least in the Southeast during the month, down 1.1 cents to $1.41 per gallon.
Nationwide, the price of self-serve, mid-grade averages $1.564 per gallon, a decrease of .3 cents from last month, but 19.4 cents more expensive than last year.
Self-serve premium averages $1.621, down .4 cents since mid-December, but 20.2 cents higher than one year ago.
The national average prices for self-serve regular unleaded gasoline for AAA's January survey for the last five years were: 2000, $1.29; 1999, $.979; 1998, $1.159; 1997, $1.288; and 1996, $1.139.
AAA's Fuel Gauge Report is based on data from Oil Price Information Service -- the nation's most comprehensive source of petroleum pricing information.
As the nation's largest motoring and leisure travel organization, AAA provides its nearly 44 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 safety and security of all travelers.
AAA news releases are available from http://www.aaa.com/news
