AAA Texas: Weekend Gas Watch; Record-Breaking Crude

HOUSTON--Aug. 1, 20052, 2005--Crude oil prices rallied to a new all-time high Thursday forcing pump prices to their highest levels ever, according to AAA Texas' Weekend Gas Watch.

The Texas average price for regular self-serve set new price records every day this week. The current record of $2.316 is 11 cents above last week's average and 54.4 cents above last year's average.

Corpus Christi posted a 15 cents weekly increase averaging $2.281 a gallon. The Galveston - Texas City area moved up 14 cents to $2.335 a gallon. In Dallas, gas averages $2.361 a gallon - 11 cents above the price motorists paid only a week ago.

"All cities surveyed set new price records this week with weekly increases above 10 cents a gallon," said Rose Rougeau, spokesperson for AAA Texas. "Based on the price of crude oil topping $65 a barrel, consumers can expect to see a substantial jump in retail gas prices over the weekend; perhaps as much as five cents a gallon on average."

The national average for regular self-serve gasoline set a new record at $2.397 a gallon - a 10 cents weekly increase.

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

Average Daily Prices as of 12:01 A.M., August 12, 2005:

                         Last
                         Week's     Weekly                      2004
Area            Current  Average    Change    New Record Price Average
----            -------  -------    ------    ---------------- -------
National        $2.397   $2.293  +10.4 cents  $2.397 (8/11/05)  $1.865
State           $2.316   $2.204  +11.2 cents  $2.316 (8/11/05)  $1.772
Austin-
 San Marcos     $2.276   $2.160  +11.6 cents  $2.276 (8/11/05)  $1.742
Beaumont        $2.281   $2.159  +12.2 cents  $2.281 (8/11/05)  $1.742
Corpus Christi  $2.281   $2.129  +15.2 cents  $2.281 (8/11/05)  $1.705
Dallas          $2.361   $2.246  +11.5 cents  $2.361 (8/11/05)  $1.786
Ft. Worth       $2.345   $2.241  +10.4 cents  $2.345 (8/11/05)  $1.770
Galveston-
 Texas City     $2.335   $2.211  +14.4 cents  $2.335 (8/11/05)  $1.763
Houston         $2.320   $2.207  +11.3 cents  $2.320 (8/11/05)  $1.755
San Antonio     $2.265   $2.147  +11.8 cents  $2.265 (8/11/05)  $1.724