AAA Texas: Weekend Gas Watch; Gasoline Prices Rise Sharply.

Energy Editors/Business Editors/Automotive Writers/Travel Writers

HOUSTON--(BUSINESS WIRE)--Feb. 7, 2003

Consumers are seeing sharp rises in gasoline prices as the likelihood of war in the Middle East grows closer, according to the Weekend Gas Watch, compiled by AAA Texas. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.

The statewide average for a gallon of regular self-serve fuel is $1.49 - up six cents a gallon in only a week. San Antonio has the least expensive fuel at nearly $1.45 a gallon - up more than six cents in a week, and that's 45 cents more than last year's average of $1.00 a gallon. Houston and Dallas tie for the most expensive fuel averaging $1.50 a gallon. Both cities saw increases of nearly six cents a gallon.

"The recent increases appear to be the result of 'panic' pricing by retailers on the anticipation of war with Iraq," said Rose Rougeau, spokesperson for AAA Texas. "In some areas, the price of gas jumped five to ten cents higher within the last couple of days. This move is premature considering gasoline supplies in the United States are plentiful."

Average prices as of 12:01 a.m., Feb. 7, 2003:

    Area                 Regular       Change         Record Price
    ----                 -------     ----------      ---------------
Austin - San Marcos      $1.470      +5.3 cents      $1.538 (5/15/01)

Corpus Christi           $1.455      +6.1 cents      $1.505 (5/8/01)

Dallas                   $1.495      +5.7 cents      $1.666 (5/12/01)

Ft. Worth                $1.488      +6.1 cents      $1.660 (5/22/01)

Houston                  $1.495      +5.7 cents      $1.639 (5/12/01)

San Antonio              $1.451      +6.2 cents      $1.498 (5/9/01)

AAA Texas, LLC, an affiliate of the AAA, has been serving Texans since 1902. Today, more than a million AAA Texas members benefit from the organization's roadside assistance, travel agency, insurance, financial products, automotive products, 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.