Average Florida Gas Price Resumes Upward Course, AAA Reports

ORLANDO, Fla.--July 13, 2004--After six weeks of decline, the nationwide average cost of self-serve regular gasoline has begun increasing again and is now $1.904 per gallon, AAA's daily, online Fuel Gauge Report (www.fuelgaugereport.com) shows.

The national average price of gasoline hit an all-time high of $2.054 per gallon on May 26, 2004 of this year. After that date, the price began falling until it reached an average of $1.884 per gallon last week, July 7. The trend has been higher since.

AAA said the resumption of price increases at the nation's gas pumps is attributable to strong demand and crude oil prices moving back into the $40 per barrel range after staying below that level throughout June. The price of oil closed yesterday at a five week high of $40.75 per barrel.

Even with the higher gas prices seen during the past week, the nationwide average price of self-serve regular is down 9 cents per gallon from one month ago. Prices declined most in the West during the period, down an average of 12.4 cents to $1.985 per gallon. Prices fell 11.3 cents per gallon in New England to $1.966. In the Mid-Atlantic states, prices dropped 8.4 cents to average $1.0921.

Southwest prices are 7.7 cents lower, averaging $1.839. Prices are 7.3 cents lower in the southeast at $1.808. In the Great Lakes and Mid-west regions, prices fell an average of 3.7 cents per gallon to average $1.915 per gallon and $1.862 per gallon, respectively.

Nationwide, the price of self-serve, mid-grade averages $2.022 per gallon, a drop of 9.5 cents per gallon since last month, but 42.7 cents per gallon higher than last year. Self-serve premium averages $2.095 per gallon, down 9.9 cents since mid-June and 44.5 cents higher than one year ago. The price of self-serve regular is 40.1 cents higher than one year ago.

Average regional prices for self-serve regular in mid-June of last year were:

West, $1.675; Great Lakes, $1.537; New England, $1.525; Mid-Atlantic, $1.487; Southwest, $1.491; Midwest, $1.50; and Southeast, $1.441.

The national average prices for self-serve regular unleaded gasoline for AAA's mid-July survey for the last five years are: 2003, $1.503; 2002, $1.396; 2001, $1.426; 2000, $1.577; and 1999, $1.174 cents.

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 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.

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