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Gas Price Down 19 Cents From `97 Labor Day

26 August 1998

Lowest Pre-Labor Day Gas Price Down 19 Cents From `97 Holiday, AAA Says


    ORLANDO, Fla.--Aug. 25, 1998--Travelers will find the lowest average pre-Labor Day price of gasoline in nine years with self-serve regular unleaded selling for 18.9 cents below a year ago, according to AAA.
    AAA's Fuel Gauge Report shows self-serve regular unleaded gasoline now averages $1.075 per gallon, the lowest price since 1989 when it averaged $1.062. The average price has dropped 2.4 cents in the last month. Last Labor Day, the average price was $1.264 per gallon.
    Self-serve mid-grade gasoline averages $1.165 per gallon, a drop of 2.3 cents in the last month and 18.1 cents lower than a year ago. Self-serve premium declined 2.5 cents in the last month to average $1.221, down 19.1 cents in one year.
    Self-serve regular unleaded gasoline is most expensive in the West at $1.223 per gallon, down .8 cent from last month and 13.1 cents less than last August. It is least expensive in the Southeast at 98.7 cents, down 2.6 cents this month and 19.4 cents below one year ago.
    Other regional prices for self-serve regular unleaded are: New England, $1.079 per gallon, 1.9 cents lower than last month and 22.2 cents below a year ago; Mid-Atlantic, $1.057, down 2.6 cents since last month and 18.4 cents less than last year; Great Lakes, $1.052, 4.2 cents lower than a month ago and 22.9 cents below last year; Midwest, $1.038, down 3.2 cents from July and 20.8 cents below a year ago; and Southwest, $1.031, 2.2 cents lower than last month and down 19.4 cents from last year.
    The national average prices for self-serve regular unleaded gasoline the past six months were: July, $1.099 per gallon; June, $1.108; May, $1.098; April, $1.079; March $1.081; and February, $1.114.
    The national average prices for self-serve unleaded regular prices for August in the past five years were: 1997, $1.264 per gallon; 1996, $1.253; 1995, $1.178; 1994, $1.198; and 1993, $1.100.
    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 News releases can be downloaded from http://www.aaa.com/news