The national average price of self-serve regular gasoline is now $1.78 per gallon, the highest average gasoline price on record, AAA said today. Gasoline prices have continued to trend higher since March 23 when they surpassed the previous record high price of $1.737 per gallon set on August 30 of last year. The average national price is now 17.8 cents per gallon higher than it was one year ago when the price was $1.602.
AAA said much of the cause for today�s high gasoline prices can be traced to oil production cutbacks made by OPEC countries in March and April, rising demand for gasoline as the US economy improves and the summer driving season approaches, and the nation�s complex system of local clean gasoline regulations that continue to crimp gasoline supply lines each spring and summer.
Since mid-March, the national average gasoline price is up 5.8 cents per gallon. On a regional basis, gasoline prices have increased the most in the last month in the Great Lakes states where prices are 10.1 cents higher and average $1.789 per gallon. Prices are up an average of 6.7 cents per gallon n the Southeast to $1.689 per gallon.
Prices are up an average of 5.6 cents per gallon in the Southwest this month to $1.731 per gallon. Midwest prices are 5.3 cents higher since mid-March, at $1.736 per gallon. In the Mid-Atlantic states, prices have increased an average of 3.6 cents to average $1.74 per gallon. Prices are up .09 cent in New England to average $1.753 per gallon. Gasoline prices fell by an average of 8.8 cents per gallon in the Western states to $1.878 per gallon since the middle of last month. Self-serve regular gasoline averaged $1.966 per gallon in the West last month.
Nationwide, the price of self-serve, mid-grade averages $1.89 per gallon, an increase of 6.2 cents per gallon since last month, and 19 cents per gallon higher than last year. Self-serve premium averages $1.958 per gallon, up 6.4 cents since mid-March and 19.6 cents higher than one year ago.
Average regional prices for self-serve regular in mid-April of last year were: West, $1.749; Great Lakes, $1.53; New England, $1.641; Mid-Atlantic, $1.604; Southwest, $1.571; Midwest, $1.505; and Southeast, $1.50.
The national average prices for self-serve regular unleaded gasoline for AAA's mid-April survey for the last five years are: 2003, $1.602; 2002, $1.411; 2001, $1.587; 2000, $1.489; and 1999, 1.15 cents.
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 purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.
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 purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.
As the nation's largest motoring and leisure travel organization, AAA provides 47 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.
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Media Contact: Justin McNaull +1 (202)942-2079 jmcnaull@national.aaa.com