---

Gas Prices Edging Lower, says AAA of Northern California

19 April 2000

Gas Prices Edging Lower, says AAA of Northern California; Central Valley Pump Prices Fall Faster Than Bay Area

    SAN FRANCISCO--April 18, 2000--Central Valley motorists are enjoying greater relief at the gas pumps than their Bay Area counterparts, AAA reported today.
    In just two weeks, gas prices have fallen as little as a penny per gallon in Oakland to as much as 9 cents in Fresno, according to AAA's Fuel Gauge Survey.
    "Gas prices continue to drift downward thanks to lower oil prices and strong refinery output," said Paul Moreno, spokesman for AAA of Northern California. "But the spring driving season will come roaring like a lion and push up demand, and likely, prices."
    The average price of regular self-serve unleaded gas in Northern California is $1.81, with the nine-county Bay Area average at $1.86, according to AAA.
    The national average is $1.49. In Los Angeles, prices average $1.72, according to AAA.
    Crude oil prices are hovering around $25 a barrel, down from a nine-year peak of $35 in early March. Crude prices have been falling as OPEC member nations increased output in an effort to bring down worldwide oil prices.
    Meanwhile, West Coast refinery output remains strong, but with inventories relatively low California is prone to price volatility, say analysts.
    "No one really knows for sure how much gasoline inventories will build before June," said Alan Kovski, energy analyst with the Kiplinger Letter In Washington, D.C. "The refineries seem to be in pretty good shape, but they are maximizing gasoline production."
    The following are today's city averages in Northern California. A special survey two weeks ago measured select cities, with the change since then reflected in parentheses. Cities without parentheses were not measured in the special survey.

-- Chico, $1.65                   -- Sacramento, $1.78 (down a nickel)
-- Concord, $1.76 (down 4 cents)  -- Salinas, $1.77
-- Eureka, $1.85                  -- San Francisco, $1.92 (down 2 cents)
-- Fresno, $1.71 (down 9 cents)   -- San Jose, $1.85 (down 3 cents)
-- Lake Tahoe, $1.72              -- San Mateo, $1.91
-- Modesto, $1.73                 -- San Rafael, $1.85
-- Monterey, $1.70                -- Santa Cruz, $1.84
-- Oakland, $1.86 (down a penny)  -- Santa Rosa, $1.78 (down 4 cents)
-- Redding, $1.76 (down 8 cents)  -- Stockton, $1.77

    In Nevada, Reno's average price of gas price is $1.83, down 3 cents in two weeks. The Las Vegas price is down 6 cents to $1.80. The Nevada state average also is $1.80.
    In Utah, the Salt Lake City average is down 3 cents to $1.54, according to AAA. Ogden's average measures $1.55, and the Provo average is $1.59. The Utah state average is $1.57, according to AAA.
    Established 100 years ago, AAA offers a wide array of automotive, travel, insurance and financial services. The California State Automobile Association serves nearly 4 million members and is the second largest regional affiliate of the national AAA organization.

    Note to Editors: A chart showing 12 months of city averages is available.