Higher Oil Prices, Summer Demand Nudge Gasoline Prices Up; AAA Texas Monthly Fuel Gauge Report

    HOUSTON--June 17, 2003--Higher crude oil prices and increased demand for gasoline have lifted the average gas price for Texas by four cents since last month, according to the AAA Texas Monthly Fuel Gauge Report.
    Statewide, the average price for a gallon of regular unleaded gasoline is $1.398, up from 1.358 on May 13. Last year at this time, gas prices were averaging $1.327 in Texas.
    Nationally, the average price of gasoline is $1.514, up 1.4 cents compared to last month and 13.3 cents higher than during May of last year, when the average was $1.381.
    "Crude oil prices have climbed to the $30-$31 per barrel range, and that is the key factor for the current gasoline price increase," said spokesperson Carol Thorp. "The increases in recent days have been largely due to speculation over when Iraq will begin shipping oil. Not all Texas cities reported price increases, but the state average has moved up."
    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      Last Month

Abilene          TX           1.404       1.444
Amarillo         TX           1.453       1.348
Austin           TX           1.375       1.313
Beaumont         TX           1.393       1.383
Brownsville      TX           1.365       1.297
Corpus Christi   TX           1.355       1.242
Dallas           TX           1.434       1.431
El Paso          TX           1.408       1.416
Fort Worth       TX           1.406       1.398
Houston          TX           1.401       1.385
Laredo           TX           1.365       1.264
Longview         TX           1.380       1.329
Lubbock          TX           1.431       1.371
Midland          TX           1.433       1.392
Odessa           TX           1.426       1.393
San Antonio      TX           1.370       1.324
Waco             TX           1.366       1.361

Average                       1.398       1.358