AAA Reports Gas Prices Fall Since Start of War

MINNEAPOLIS, April 15 -- The nationwide average price of self-serve regular unleaded gasoline has dropped an average of 12 cents per gallon since mid-March, reflecting a significant decline in crude oil prices -- nearly 25 percent -- since the start of Operation Iraqi Freedom. Crude reached nearly $40 per barrel prior to the war and is less than $30 today.

"The end of the major hostilities in Iraq and the recent downward trend in gasoline prices will increase consumer interest in planning late-spring and summer driving vacations," said Dawn Duffy, AAA spokesperson. "Whether prices will stabilize near their current levels or move lower is yet to be seen; however, these lower prices should help motorists feel better when making their weekly trip to the fuel pumps."

Reports for April 15, 2003, reflect the following average prices per gallon for self-serve, regular unleaded gas:

                                   Current        Month Ago      Year Ago
  National                          $1.60           $1.72         $1.42
  Iowa                              $1.49           $1.66         $1.40
  Cedar Rapids                      $1.46           $1.64         $1.33
  Davenport/Moline/Rock Island      $1.49           $1.70         $1.40
  Des Moines                        $1.49           $1.67         $1.41
  Sioux City                        $1.45           $1.62         $1.36
  Waterloo/Cedar Falls              $1.48           $1.65         $1.39

AAA's Fuel Gauge Report is based upon data from the Oil Price Information Service, the nation's most comprehensive source of petroleum pricing statistics.

AAA offers automotive, travel, insurance and financial services to more than 45 million members in the United States and Canada. AAA Minnesota/Iowa is part of The Auto Club Group, which has 4.1 million members in eight Midwest states.