War Jitters Push Gasoline Prices Higher: AAA Texas Monthly Fuel Gauge Report
HOUSTON--March 11, 2003--The uncertainty of a military conflict in Iraq and subsequent price speculation by investors continue to drive fuel prices higher across Texas and the nation, according to AAA Texas Monthly Fuel Gauge Report.The statewide average price for a gallon of self-serve regular unleaded is $1.57 -- seven cents higher than last month's average of $1.50. Last year's average was $1.12 a gallon -- about 45 cents less than the current average.
The nationwide average price of self-serve regular gasoline is now $1.70 a gallon. In January, motorists were paying an average of $1.61 a gallon. A year ago, the nationwide average price of self-serve regular was $1.18.
"The continuing reduction of oil and gasoline imports from other countries and war jitters continue to push prices up to near record levels," said Carol Thorp, spokesperson for AAA Texas. "Motorists should avoid panic buying of gasoline or the formation of gas lines in the event of a war with Iraq. This could create temporary local shortages when there is no real shortage."
AAA Texas is advising motorists to shop aggressively for the best price of gasoline, look for ways to cut down on fuel consumption and keep their vehicles properly maintained to increase fuel economy.
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 Texas, an affiliate of AAA National, has been serving Texans since 1902. Today, more than a million AAA Texas' members benefit by the organization's roadside assistance service, insurance and financial products, travel agency, automotive pricing, buying and financing, trip planning services and traffic safety programs. Information about these products and services is available on AAA Texas' Web site at www.aaa-texas.com.
AAA TEXAS FUEL GAUGE MONTHLY REPORT AVERAGE PRICE OF SELF-SERVE REGULAR GASOLINE City State Price ---- ----- ----- Abilene TX 1.586 Amarillo TX 1.581 Austin TX 1.547 Beaumont TX 1.594 Brownsville TX 1.504 Corpus Christi TX 1.549 Dallas TX 1.602 El Paso TX 1.550 Fort Worth TX 1.585 Houston TX 1.585 Laredo TX 1.567 Longview TX 1.586 Lubbock TX 1.591 Midland TX 1.596 Odessa TX 1.584 San Antonio TX 1.533 Waco TX 1.542 Average 1.570 Editor Note: Prior month and year fuel prices unavailable this month only.