Gas Price Stays Far Below Year Ago Level, AAA Says

ORLANDO, Fla.--June 18, 2002--Gasoline prices remain well below the levels of one year ago and have remained very stable as the summer driving season begins, AAA's daily, online Fuel Gauge Report shows.

The nationwide average price of self-serve regular gasoline is $1.386. This is 24 cents below last June's average price of $1.629. Travelers also will find gasoline prices have remained almost unchanged since April of this year, when the nationwide average price of gasoline first settled near $1.40 per gallon nationwide. This summer's more moderate gasoline prices will make summer trips during the Fourth of July holiday more affordable than last year, AAA said.

Gas prices are nearly unchanged in most regions since May. Prices declined an average 2.1 cents per gallon in the Midwest to $1.347. In the Southeast prices dropped 2.6 cents to $1.315; in the Great Lakes down 2 cents to $1.391; and Southwest down 1.4 cents to $1.344.

The only region where prices are up is the West where an increase of 1 cent per gallon brings the price to $1.493.

Nationwide, the price of self-serve, mid-grade averages $1.472, a decrease of 1.5 cents per gallon since last month, but 26 cents less expensive than last year.

Self-serve premium averages $1.52 per gallon, down 1.5 cents since mid-May, and 27 cents lower than one year ago.

Average regional gasoline prices in June of last year were: West, $1.77; New England, $1.72; Mid-Atlantic, $1.69; Great Lakes, $1.74; Southwest, $1.63; Midwest, $1.71; and Southeast, $1.54.

The national average prices for self-serve regular unleaded gasoline for AAA's June survey for the last five years are: 2001, $1.629; 2000, $1.664; 1999, $1.142; 1998, $1.108; and 1997, $1.25.

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 more than 45 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.