AAA Says Average Gas Price Could Retreat with Cost of Other Commodities

BURNSVILLE, Minn.--June 13, 2006--Gasoline prices, which have so far resisted the broad decline in stock and commodity prices of recent weeks, could soon be moving a bit lower, AAA said today.

The nation's largest organization for motorists said Tropical Storm Alberto may have propped gasoline prices up during the last week on the somewhat remote possibility that energy industry operations would be disrupted. This has not happened, and the price of both crude oil and wholesale gasoline has been dropping today.

AAA said for motorists to begin seeing meaningful relief from gas prices that are averaging $2.899 per gallon nationwide, according to AAA's daily, on-line Fuel Gauge Report (www.aaafuelgaugereport.com), oil prices will need to move below $70 and stay there for an extended period.

The average price of self-serve regular was $2.902 one month ago. One year ago the price was $2.13 per gallon, AAA said.

According to AAA, Hawaii has the highest average gas price in the nation at $3.386 per gallon. California and Connecticut have the next highest average prices at $3.262 per gallon and $3.138 per gallon; respectively.

Oklahoma and South Carolina have the lowest state-wide average gasoline prices in the nation at $2.687 and $2.69 per gallon; respectively. Missouri has the next lowest average price at $2.731 per gallon.

Nationwide, the price of self-serve, mid-grade gasoline averages $3.078 per gallon, a slight decrease from $3.08 per gallon in the middle of last month, and up from $2.261 one year ago. Self-serve premium averages $3.188 per gallon, down four-tenths of a cent from one month ago when the price was $3.192 per gallon. Premium averaged $2.343 at this time last year.

The national average prices for self-serve regular unleaded gasoline for AAA's mid-June survey for the last five years are: 2005, $2.13; 2004, $1.98; 2003, $1.514; 2002, $1.386; and 2001, $1.661.

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 more than 49 million members with travel, insurance, financial and automotive-related services. AAA Minnesota/Iowa is part of the Auto Club Group with more than 4.1 million members.