AAA Texas: Gas Prices May Have Found Plateau; No Shortage Foreseen

    HOUSTON--March 21, 2003--Gasoline prices throughout Texas increased slightly last week, indicating that rising prices may have found a plateau, according to the Weekend Gas Watch, compiled by AAA Texas. Despite concerns about fuel supplies during a period of wartime, AAA assured motorists that there is ample supply to meet normal demand. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    The statewide average price for a gallon of regular unleaded self-serve is $1.613, which is one-half cent higher than last week's level, two cents above the price last month and 37 cents higher than last year. Of the major metropolitan areas in Texas, Dallas had the highest price with an average of 1.624 per gallon, while motorists in Corpus Christi have the lowest price of $1.560, only one-tenth of a cent higher than last week.
    "Consumers should be assured that despite the outbreak of hostilities in Iraq, our nation's gasoline supply is ample to meet our normal needs," Carol Thorp, spokesperson for AAA Texas, said. "AAA urges motorists to buy gas as they normally would. Panic buying is not only unnecessary, it can lead to artificial shortages and higher prices."

Average prices as of 12:01 a.m., March 21, 2003:

Area                     Regular       Change         Record Price
----                     -------       ------         ------------
Austin-San Marcos        $1.578      +0.3 cents     $1.580 (3/19/03)

Corpus Christi           $1.560      +0.1 cents     $1.590 (2/20/03)

Dallas                   $1.624      +0.3 cents     $1.666 (5/12/01)

Ft. Worth                $1.617      +1.1 cents     $1.660 (5/22/01)

Houston                  $1.613      +0.4 cents     $1.639 (5/12/01)

San Antonio              $1.571      +0.3 cents     $1.582 (3/18/03)