Average Gasoline Price up Nearly 10 Cents from Month Ago, AAA Says

    ORLANDO, Fla.--Jan. 14, 2003--Curtailed oil and gasoline exports from Venezuela and the threat of war with Iraq have sent gasoline prices up nearly 10 cents per gallon since mid-December, AAA's daily online Gauge Report (http://www.fuelgaugereport) shows.
    The nationwide average price of self-serve regular gasoline is now $1.468 per gallon, returning gasoline prices to levels seen prior to the Thanksgiving holiday last November. In mid-December gasoline prices had declined to average $1.371 per gallon. One year ago the nationwide average price of self-serve regular was $1.132 per gallon.
    In recent weeks gasoline prices have been increasing along with the price of crude oil. Oil prices closed at $32.26 per barrel on the NYMEX yesterday. OPEC member countries have a goal of keeping world oil prices at or below $28 per barrel, and agreed to increase oil production last week.
    Since mid-December, gasoline prices have increased an average of 16.3 cents per gallon in the Great Lakes region to $1.496. Prices have jumped 9.7 cents in the Southeast to $1.415 per gallon, and moved 9.3 cents higher in the Midwest to $1.432 per gallon.
    Gasoline prices have increased 8.3 cents per gallon in the mid-Atlantic region, and are up 7 cents in the western states and now average $1.496 in both regions. In the southwest, gasoline averages $1.40 per gall; an increase of 6.9 cents per gallon from one month ago. New England gasoline prices have increased 4.2 cents per gallon since mid-December to average $1.526 per gallon.
    Nationwide, the price of self-serve, mid-grade averages $1.559, an increase of 10.3 cents per gallon since last month, and 35.8 cents higher than last year. Self-serve premium averages $1.615 per gallon, up 10.6 cents since mid-December, and 37 cents higher than last year.
    Average regional prices for self-serve regular in mid-January of last year were: West, $1.264; New England, $1.117; Mid-Atlantic, $1.128; Southwest, $1.113; Great Lakes, $1.122; Midwest, $1.13; and Southeast, $1.092.
    The national average prices for self-serve regular unleaded gasoline for AAA's mid-January survey for the last five years are: 2002, $1.132; 2001, $1.473; 2000, $1.289; 1999, $0.979; and 1998, $1.159.
    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 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.

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