AAA Reports National Pump Prices Below $2

MINNEAPOLIS, Nov. 16, 2004 -- The national average price of self- serve regular gasoline continues to fall and currently is $1.96 per gallon, a seven cent decrease in the last six weeks. The current pump prices, however, are 46 cents higher than one year ago.

"The fall of crude oil prices in the last two weeks has helped motorists, going from $55 per barrel just before the November 2 elections to the current price of just under $47 per barrel," said Dawn Duffy, AAA spokesperson. "These lower oil prices have occurred as the U.S. oil industry begins restoring its capacity and reserves that were lost when Hurricane Ivan struck the Gulf of Mexico in September."

Reports for November 16, 2004, reflect the following average prices per gallon for self-serve, regular unleaded gas:

                                     Current       Month Ago        Year Ago
   National                          $1.96           $2.00         $1.50
   Iowa                              $1.87           $1.93         $1.44
   Cedar Rapids                      $1.90           $1.94         $1.42
   Davenport                         $1.87           $1.94         $1.44
   Des Moines                        $1.78           $1.91         $1.44
   Sioux City                        $1.88           $1.91         $1.41
   Waterloo                          $1.87           $1.91         $1.37

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, and can be found at http://www.fuelgaugereport.com/ .

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, with 4.1 million members in eight Midwest states.