AAA Texas: Weekend Gas Watch; Crude Prices Hit New High

IRVING, Texas--Oct. 8, 2004--The price of crude oil, which continued to move into uncharted territory this week, has pushed retail gasoline prices upward nationally and in many Texas communities, according to AAA Texas' Weekend Gas Watch.

The national average for regular self-serve gasoline is $1.947 a gallon - a three cents increase. The Texas average for a gallon of regular self-serve is $1.836 a gallon, up a penny since last week; however, that's an increase of 41.6 cents compared to last year's average of $1.420.

Corpus Christi is the only city on the list that posted a decrease, down a penny to $1.802 a gallon. Despite that slight decrease, San Antonio has the cheapest gas at $1.793 a gallon. Once again, Dallas remains the highest on the list at $1.841 a gallon.

"Crude prices set a new record high of $53 a barrel amid concerns over international market jitters, low winter inventories and increasing demand," said Rose Rougeau, spokesperson for AAA Texas. "Hurricane Ivan's trek along the Gulf Coast interrupted crude production and disrupted operations at refineries which has hindered efforts to build refined winter stocks."

AAA Texas' Weekend Gas Watch monitors the average price of gasoline at popular destinations for automobile trips.

Average Daily Prices as of 12:01 a.m., Oct. 8, 2004:

                               Weekly            New           Year
Area               Current     Change        Record Price    Ago Price
------------------ -------  ------------   ----------------- ---------

National           $1.947   + 3.1 cents    $2.054 (5/26/04)   $1.582

State              $1.836   + 1.1 cents    $1.927 (5/26/04)   $1.441

Austin-San Marcos  $1.815   + 0.5 cent     $1.929 (5/27/04)   $1.415

Beaumont           $1.815   + 2.1 cents    $1.903 (6/1/04)    $1.422

Corpus Christi     $1.802   - 1.1 cents    $1.925 (5/26/04)   $1.335

Dallas             $1.841   + 0.6 cent     $1.932 (5/27/04)   $1.481

Fort Worth         $1.826   + 0.2 cent     $1.924 (5/28/04)   $1.457

Galveston -        $1.817   + 1.8 cents    $1.922 (6/1/04)    $1.469
Texas City

Houston            $1.820   + 1.9 cents    $1.909 (6/1/04)    $1.454

San Antonio        $1.793   + 0.4 cent     $1.952 (5/26/04)   $1.389

AAA Texas, an affiliate of AAA National, has been serving Texans since 1902. Today, more than a million AAA Texas members benefit from the organization's roadside assistance service, travel agency, financial products, insurance products and services, 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.