---

Gas Prices Drop in Texas in Time for Thanksgiving

22 November 1999

Gas Prices Drop in Texas in Time for Thanksgiving

    HOUSTON--Nov. 19, 1999--The average price of self-serve regular unleaded gasoline dropped 3 cents since October, according to a AAA Texas survey. The current Texas statewide average price of a gallon of self-serve regular unleaded is $1.188.
    The average price four weeks ago was $1.215.
    "Thanksgiving travelers will find slightly lower prices at the pump than they did just three weeks ago," says Patrick O'Reilly, a spokesman for AAA Texas.
    AAA reports that the national average price for self-serve regular unleaded gasoline per gallon is $1.282, which is up 22.8 cents since November 1998, according to a special AAA Fuel Gauge Report.
    California prices continue to reflect decreased demand following a record summer travel season and a mild winter nationwide, according to industry analysts. Analysts expect that pump prices will continue to be influenced by production limits set by the Organization of Petroleum Exporting Countries (OPEC). Yesterday's per barrel oil price for December delivery exceeded $25 per barrel. This is $3 per barrel higher than last month and $15 per barrel higher than the trading range experienced at the end of last year.
    AAA and AAA Texas commission their Fuel Gauge Reports as a service to motorists and the media. The current reports are based on data gathered November 15, 1999, by the Oil Price Information Service - the nation's most comprehensive source of petroleum pricing information.
    AAA Texas, an affiliate of the American Automobile Association, has been serving Texans since 1905. Today, AAA Texas offers its members a full service travel agency, auto-related services, financial services, public safety programs, and legislative advocacy.

Note: Attached is November 16, 1999, average price information for 15 Texas cities.

                      AAA TEXAS FUEL GAUGE REPORT
         Average Price of Self-Serve Regular Unleaded Gasoline
                       In Selected Texas Cities

---------------------------------------------
Metro                               UNL
Abilene                            1.228
Amarillo                           1.191
Austin                             1.188
Beaumont                           1.165
Brownsville                        1.168
Corpus Christi                     1.107
Dallas                             1.234
El Paso                            1.229
Fort Worth                         1.195
Houston                            1.207
Laredo                             1.159
Longview                           1.208
Lubbock                            1.206
San Antonio                        1.154
Waco                               1.183

Average                            1.188

     Survey Commissioned by AAA Texas on November 16, 1999.