AAA Texas: Gas Prices Continue Falling - More Declines Likely

    HOUSTON--April 18, 2003--Tumbling gasoline prices continued their month-long downward trend across Texas last week as increased gasoline imports and falling wholesale prices combined to push prices lower, according to the Weekend Gas Watch, compiled by AAA Texas. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    The statewide average price for a gallon of regular unleaded self-serve is $1.488 which is 3.2 cents lower than last week's level, 13 cents below the price last month and 13 cents higher than last year. Of the major metropolitan areas in Texas, Dallas had the highest price with an average of 1.519 per gallon, while motorists in Corpus Christi have the lowest price of $1.397.
    "Over the past couple of weeks imports from Venezuela, Canada and Europe have increased and that has take the edge off of any supply worries. Imports combined with lower wholesale gasoline prices have sent pump prices lower," said Carol Thorp, spokesperson for AAA Texas said. "However, over the past month, wholesale prices have declined 20 cents per gallon while retail prices have gone down only ten cents per gallon. This indicates that pump prices are likely to move lower."

Average prices as of 12:01 a.m., April 18, 2003:

Area                    Regular       Change          Record Price
----                    -------       -------        --------------
Austin-San Marcos       $1.448      -3.1 cents      $1.580 (3/19/03)

Corpus Christi          $1.397      -5.4 cents      $1.590 (2/20/03)

Dallas                  $1.519      -2.8 cents      $1.666 (5/12/01)

Fort Worth              $1.496      -3.2 cents      $1.660 (5/22/01)

Houston                 $1.493      -3.4 cents      $1.639 (5/12/01)

San Antonio             $1.448      -3.9 cents      $1.582 (3/18/03)