National Average Gas Price Up 8 Cents Since Mid-January, AAA Fuel Gauge Report Shows

ORLANDO, Fla.--Feb. 15, 2005--The national average price of self-serve regular gasoline is $1.89 per gallon, up 7.8 cents since mid-January, AAA's daily, online Fuel Gauge Report (www.fuelgaugereport.com) shows.

Gasoline prices have remained at high levels as crude oil has traded between $45 and $50 since early January. The current nationwide gas price is just 16.4 cents per gallon short of the all-time record high price of $2.054 per gallon set May 2, 20056, 2004. This leaves little room to absorb the usual spring price increase without setting new records.

Prices increased the most during the last month in the New England region - up an average of 10.4 cents per gallon to $1.943. The average price increased in the West by 9.3 cents to $1.915 per gallon. The average price also increased in the Southwest, up 8.8 cents per gallon to $1.843.

Prices are 8.7 cents higher in the Midwest since mid-January to $1.888. In the Southeast prices have increased by 7 cents to $1.822 per gallon. Gas prices are higher in the Mid-Atlantic region by an average of 6.9 cents per gallon to $1.909. In the Great Lakes region, prices increased the least, up 5.8 cents to $1.909 per gallon.

Nationwide, the price of self-serve, mid-grade averages $2.007 per gallon, an increase of 8.3 cents per gallon since last month, and 26.2 cents higher than one year ago. Self-serve premium averages $2.08 per gallon, up 8.6 cents since mid-January and 27.2 cents higher than one year ago.

Average regional prices for self-serve regular in mid-February of last year were: Great Lakes, $1.69; New England, $1.682; West, $1.668; Mid-Atlantic, $1.644; Midwest, $1.603; Southwest, $1.573; and Southeast, $1.572.

The national average prices for self-serve regular unleaded gasoline for AAA's mid-February survey for the last five years are: 2004, $1.643; 2003, $1.645; 2002, $1.12; 2001, $1.492; and 2000, $1.367.

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 purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.

As the nation's largest motoring and leisure travel organization, AAA provides more than 47 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.