War Jitters Push Gasoline Prices Higher: AAA Texas Monthly Fuel Gauge Report

    HOUSTON--March 11, 2003--The uncertainty of a military conflict in Iraq and subsequent price speculation by investors continue to drive fuel prices higher across Texas and the nation, according to AAA Texas Monthly Fuel Gauge Report.
    The statewide average price for a gallon of self-serve regular unleaded is $1.57 -- seven cents higher than last month's average of $1.50. Last year's average was $1.12 a gallon -- about 45 cents less than the current average.
    The nationwide average price of self-serve regular gasoline is now $1.70 a gallon. In January, motorists were paying an average of $1.61 a gallon. A year ago, the nationwide average price of self-serve regular was $1.18.
    "The continuing reduction of oil and gasoline imports from other countries and war jitters continue to push prices up to near record levels," said Carol Thorp, spokesperson for AAA Texas. "Motorists should avoid panic buying of gasoline or the formation of gas lines in the event of a war with Iraq. This could create temporary local shortages when there is no real shortage."
    AAA Texas is advising motorists to shop aggressively for the best price of gasoline, look for ways to cut down on fuel consumption and keep their vehicles properly maintained to increase fuel economy.
    AAA's Fuel Gauge Report is based on data from Oil Price Information Service, the nation's most comprehensive source of petroleum pricing information.
    AAA Texas, an affiliate of AAA National, has been serving Texans since 1902. Today, more than a million AAA Texas' members benefit by the organization's roadside assistance service, insurance and financial products, travel agency, automotive pricing, buying and financing, trip planning services and traffic safety programs. Information about these products and services is available on AAA Texas' Web site at www.aaa-texas.com.

                  AAA TEXAS FUEL GAUGE MONTHLY REPORT
             AVERAGE PRICE OF SELF-SERVE REGULAR GASOLINE

City                   State     Price
----                   -----     -----
Abilene                 TX       1.586
Amarillo                TX       1.581
Austin                  TX       1.547
Beaumont                TX       1.594
Brownsville             TX       1.504
Corpus Christi          TX       1.549
Dallas                  TX       1.602
El Paso                 TX       1.550
Fort Worth              TX       1.585
Houston                 TX       1.585
Laredo                  TX       1.567
Longview                TX       1.586
Lubbock                 TX       1.591
Midland                 TX       1.596
Odessa                  TX       1.584
San Antonio             TX       1.533
Waco                    TX       1.542

Average                          1.570

Editor Note: Prior month and year fuel prices unavailable this month 
only.