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Gas Price Dips 3 Cents in Last Month, AAA Reports

18 October 2000

Gas Price Dips 3 Cents in Last Month, AAA Reports

    ORLANDO, Fla.--Oct. 17, 2000--Average gasoline prices moved lower or stayed the same in all regions of the country in the last month but remain at a historically high level of $1.549 per gallon nationwide, AAA's daily online Fuel Gauge Report shows.
    This month's average price is 11 cents below the all-time high of $1.659 reached on June 23. Until this year, the cost of self-serve regular gasoline has never averaged more than $1.39 per gallon; a level last reached in December 1990.

    (EDITOR'S NOTE: national, state and local prices can be downloaded on the AAA NewsRoom - http://www.aaa.com/news.)

    Today's announcement of a framework for calming hostilities in the Middle East is a positive sign for fuel markets and should help stem fears of possible fuel supply disruptions and steeper gasoline price hikes, according to AAA.
    During the last month, prices decreased 9.6 cents in the Great Lakes region to average $1.488 and fell 7.2 cents in the Midwest to average $1.511. Prices are down 3.8 cents in the Southeast at $1.453 and down 3.4 cents in the Southwest to $1.499.
    New England prices fell 2.1 cents to $1.614 per gallon and prices are down 3.3 cents in the Mid-Atlantic states to $1.551. The average price is unchanged in the West during the last month at $1.73 per gallon.
    Self-serve mid-grade unleaded averages $1.645 per gallon nationwide, 3.3 cents less expensive than last month and 29.2 cents higher than last year. Self-serve premium averages $1.705, down 3.3 cents since September and up 30.3 cents in one year.
    The national average prices for self-serve regular in the last six months were: September $1.58 per gallon; August, $1.496; July, $1.577; June, $1.664; May $1.465; and April, $1.489.
    The national average prices for self-serve regular unleaded gasoline for AAA's October survey for the last five years were: 1999, $1.293; 1998, $1.066 per gallon; 1997, $1.264; 1996, $1.259; and 1995, $1.154. AAA's Fuel Gauge Report is based on data from Oil Price Information Service -- the nation's most comprehensive source of petroleum pricing information.