Gas Prices Drop to 1992 Levels, AAA Survey Shows

18 November 1998

Gas Prices Drop to 1992 Levels, AAA Survey Shows

    ORLANDO, Fla.--Nov. 17, 1998--The national average price of self-serve regular unleaded gasoline decreased in November to $1.055 per gallon, down 1.2 cents since October, according to AAA.
    The November price is the lowest since March 1992, when the average price was $1.049 per gallon. The current price is 17.9 cents cheaper than last November's average price of $1.234.
    AAA's Fuel Gauge Report is based on data from 67,429 fuel transactions.
    The average price of self-serve mid-grade unleaded is $1.145, 1.2 cents lower than last month and 17.5 cents below last year. Self-serve premium averages $1.203, down 1.1 cents in one month and down 17.1 cents since last year.
    Self-serve regular unleaded is most expensive in the West at $1.192 per gallon, down 1.4 cents in one month and 19.3 cents in one year. It is least expensive in the Southeast at 98.3 cents, down 1 cent in one month and 15.8 cents in one year.
    Other regional prices for self-serve unleaded are: New England, $1.071 per gallon, no change since last month; Mid Atlantic, $1.046, down .2 cent; Great Lakes, $1.024, down 2 cents; Midwest, $1.006 down 1.7 cents; and Southwest, $1.001, down 2 cents.
    The national average prices for self-serve regular unleaded gasoline for the last six months were: October, $1.066 per gallon; September, $1.057; August, $1.075; July, $1.099; June, $1.108; May, $1.098.
    The national average prices for November in the last five years were: 1997, $1.234 per gallon; 1996, $1.277; 1995, $1.123; 1994, $1.165 and 1993, $1.116.
    AAA's Fuel Gauge Report is based on data from Oil Price Information Service -- the nation's most comprehensive source of petroleum pricing information (800-929-4824, ext. 645).
    AAA is a not-for-profit federation of 93 clubs with 1,100 offices providing more than 41 million members in the United States and Canada with travel, insurance, financial and auto-related services.

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