AAA Texas: Weekend Gas Watch; Gasoline Prices Rise Suddenly

HOUSTON--Aug. 8, 2003--Pump prices rose suddenly this week throughout Texas, according to the Weekend Gas Watch, compiled by AAA Texas.

The statewide average price for a gallon of regular self-serve is $1.46 -- up two pennies since last week. A year ago, motorists in Texas were paying $1.33 a gallon. Corpus Christi saw the steepest increase of nearly five cents at $1.44 a gallon. The least expensive gas can be found in the Austin - San Marcos area at $1.42 a gallon, up about a penny. The most expensive fuel is in the Dallas area at $1.47 a gallon, up three-tenths of a penny compared to a week ago.

"Contrary to last week's predictions of stable gasoline prices through the end of the summer, crude oil prices suddenly took a turn upward this week," said Rose Rougeau, spokesperson for AAA Texas. "That has translated into higher retail prices; as yet there is no clear-cut reason for the price hike."

The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.

Average prices as of 12:01 a.m., Aug. 8, 2003:

Area                     Regular       Change         Record Price
----                     -------       ------         ------------
Austin-San Marcos        $1.418       +0.8 cent      $1.580 (3/19/03)

Corpus Christi           $1.437       +4.9 cents     $1.590 (2/20/03)

Dallas                   $1.465       +0.3 cent      $1.666 (5/12/01)

Fort Worth               $1.457       +0.9 cent      $1.660 (5/22/01)

Houston                  $1.449       +1.3 cents     $1.639 (5/12/01)

San Antonio              $1.419       +1.7 cents     $1.582 (3/18/03)