Average Gasoline Price Significantly Higher Than One Year Ago, AAA Reports.Business Editors/Travel & Automotive Writers ORLANDO, Fla.--(BUSINESS WIRE)--Nov. 12, 2002 The nationwide average price of self-serve regular gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by is 25.2 cents higher than one year ago, when the nation was still recoiling from the effects of the terrorist attacks of 9/11, AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. said today. The current nationwide average price of self-serve regular gasoline is $1.458 per gallon gallon: see English units of measurement. . One year ago the average price was $1.206 per gallon. Crude oil prices by themselves do not explain the higher price of gasoline throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , AAA said, noting the price of crude oil has recently declined from near $30 per barrel to less than $27 per barrel. Instead, AAA blamed the higher gasoline prices on reduced inventories of gasoline compared to one year ago, strong demand by US motorists, and reluctance by gasoline retailers to lower prices in the face of a potential war with Iraq. Since mid-October, gasoline prices have increased an average of 3 cents per gallon in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. to $1.493. Prices have increased 2.3 cents to $1.465 per gallon in the Mid-Atlantic region, and moved 0.9 cent higher in the Southeast to $1.403 per gallon. Southwest gasoline prices have increased 0.7 cent per gallon to $1.416 since mid-October, while Western states have seen an average 0.6-cent increase to $1.524 per gallon. Prices in the Great Lakes Great Lakes, group of five freshwater lakes, central North America, creating a natural border between the United States and Canada and forming the largest body of freshwater in the world, with a combined surface area of c.95,000 sq mi (246,050 sq km). are up 0.1 cent per gallon to $1.502. Prices in the Midwest are down an average 0.5 cent per gallon to $1.47. Nationwide, the price of self-serve, mid-grade averages $1.548, an increase of 1.3 cents per gallon since last month, and 26.8 cents higher than last year. Self-serve premium averages $1.604 per gallon, up 1.3 cents since mid-September, and 27.8 cents since last year. Average regional prices for self-serve regular in November of last year were: West, $1.481; New England, $1.268; Mid-Atlantic, $1.207; Southwest, $1.311; Great Lakes, $1.269; Midwest, $1.148; and Southeast, $1.112. The national average prices for self-serve regular unleaded gasoline for AAA's mid-October survey for the last five years are: 2001, $1.206; 2000, $1.547; 1999, $1.282; 1998, $1.055; and 1997, $1.234. AAA's Fuel Gauge Report is based on data from Oil Price Information Service, the nation's most comprehensive source of petroleum pricing information. As the nation's largest motoring and leisure travel organization, AAA provides more than 45 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit Not-for-profit An organization established for charitable, humanitarian, or educational purposes that is exempt from some taxes and in which no one in profits or losses. , 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 Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at: http://www.aaa.com. AAA news releases are available from http://www.aaa.com/news |
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