AAA Texas: Weekend Gas Watch; Steep Decreases at the Gas Pumps

HOUSTON--Sept. 26, 2003--Motorists across the state saw steep price decreases at the gasoline pumps this week, according to the Weekend Gas Watch by AAA Texas.

The Texas average for a gallon of regular self-serve gasoline is $1.48 - four cents lower than last week's average, and eleven cents less than last month's average of $1.59. Last year, a gallon of gas in Texas averaged $1.34. Corpus Christi continues to show the biggest decline for the fourth straight week - a seven cents drop to fall at $1.39 a gallon - the cheapest on the list. All cities fell below the $1.50 mark, except Dallas. There, a gallon of gas averages $1.51 - a drop of nearly four cents in a week.

"A recent decision by the Organization of Petroleum Exporting Countries (OPEC) to cut production makes it difficult to tell if these price decreases will continue," said Rose Rougeau, spokesperson for AAA Texas. "If OPEC producers abide by the decision to reduce the output of crude oil, retail prices could move back up. However, non-OPEC countries may not be willing to cut production to match OPEC's lead."

The Weekend Gas Watch monitors the average price of gasoline at popular destinations for automobile trips.

Average prices as of 12:01 a.m., Sept. 26, 2003:

      Area                 Regular        Change       Record Price
----------------------  ------------- -------------- -----------------
Austin-San Marcos             $1.446    - 4.4 cents   $1.580 (3/19/03)

Corpus Christi                $1.389    - 7.1 cents   $1.590 (2/20/03)

Dallas                        $1.505    - 3.6 cents   $1.666 (5/12/01)

Fort Worth                    $1.491    - 3.7 cents   $1.660 (5/22/01)

Houston                       $1.481    - 5.8 cents   $1.639 (5/12/01)

San Antonio                   $1.414    - 5.3 cents   $1.582 (3/18/03)