AAA Texas: Weekend Gas Watch; Second Week of Lower Gas Prices

HOUSTON--Aug. 6, 2004--Gasoline prices dropped for the second straight week despite crude oil prices spiking above $44 a barrel, according to AAA Texas' Weekend Gas Watch.

The national average for regular self-serve gasoline is $1.881 a gallon, 1.8 cents lower than last week's average. The Texas average for a gallon of regular self-serve dropped 1.1 cents to $1.784 a gallon. Last year, a gallon of gas in Texas averaged $1.449.

San Antonio has the cheapest gasoline on the list at $1.737 a gallon, down 1.3 cents compared to a week ago. Corpus Christi is slightly higher at $1.753 a gallon, down a penny. Dallas has the most expensive fuel at $1.797, about the same as last week's average.

"This downward movement in gas prices may be an indication that prices may remain at or near these levels throughout Labor Day, which is the traditional end of the summer driving season," said Rose Rougeau, spokesperson for AAA Texas. "The only factor that may affect retail prices is the recent spike in crude oil prices. It may take a week or two to determine if the run-up in crude is merely temporary and what, if any, effect it has on gasoline."

AAA Texas' Weekend Gas Watch monitors the average price of gasoline at popular destinations for automobile trips.

Average Daily Prices as of 12:01 AM, August 6, 2004:

                              Weekly            New           Year
Area               Current    Change        Record Price    Ago Price
----               -------  ----------     --------------   ---------
National           $1.881   - 1.8 cents   $2.054 (5/26/04)   $1.534

State              $1.784   - 1.1 cents   $1.927 (5/26/04)   $1.449

Austin-San Marcos  $1.756   - 0.9 cent    $1.929 (5/27/04)   $1.410

Beaumont           $1.760   - 0.5 cent    $1.903 (6/1/04)    $1.424

Corpus Christi     $1.753   - 1.0 cent    $1.925 (5/26/04)   $1.395

Dallas             $1.797   - 0.3 cent    $1.932 (5/27/04)   $1.459

Fort Worth         $1.773   - 1.2 cents   $1.924 (5/28/04)   $1.449

Galveston -        $1.771   - 1.0 cent    $1.922 (6/1/04)    $1.444
Texas City

Houston            $1.762   - 1.0 cent    $1.909 (6/1/04)    $1.438

San Antonio        $1.737   - 1.3 cents   $1.952 (5/26/04)   $1.399

AAA Texas, an affiliate of AAA National, has been serving Texans since 1902. Today, more than a million AAA Texas members benefit from the organization's roadside assistance service, travel agency, financial products, insurance products and services, automotive pricing, buying and financing, trip planning services, and traffic safety programs. Information about these products and services is available on AAA Texas' Web site at www.aaa-texas.com.