Denver, August 11-For the first time since last September, Colorado's statewide average for regular unleaded gasoline has broken a new record. According to AAA's Fuel Gauge Report (www.fuelgaugereport.com), Coloradans are now paying $3.076 per gallon of regular unleaded. That price exceeds the previous record, $3.074, set on September 7, 2005. It's also higher than the current national average of $3.032 per gallon of regular unleaded gasoline. AAA is urging retailers to show restraint with their pricing because current supplies in the U.S. are strong. AAA also is cautioning motorists not to overreact by topping off their tanks or engaging in panic buying. Cities and towns throughout Colorado are breaking records this week as well. Vail continues its record-setting pace, recording new highs almost daily. Vail's average of $3.35 per gallon of regular unleaded yesterday (8/10) was another all-time record and the highest recorded in the state. Pueblo also continues to hit record price highs in the last week. Currently Pueblo's price for a gallon regular unleaded is $3.05. And Fort Collins set a record today of $3.07 for regular unleaded. For information on finding the lowest price of gasoline where you live, log on to www.aaa.com/fuelgauge and click on "Fuel Price Finder." Prices are responding to various events in the world arena, including the thwarted terrorist plot in the United Kingdom and the Alaskan oil pipeline leak earlier in the week. The price of crude oil surged to just over $76 per barrel after BP discovered corrosion in a major pipeline last Sunday. Crude oil prices recovered early today, dropping to around $74 per barrel, sparked by analyst expectations of lower jet fuel demand and weaker consumer confidence due to the thwarted airplane attacks in Britain. That may explain the national price trend, but Colorado's price increase is due more to a shortage of diesel statewide and of gasoline supplies in general, according to oil price analyst Bryant Gimlin of Gray Oil. Another possible factor impacting gas prices is the hurricane season. Fears about more damaging hurricanes like Katrina and Rita could have an impact on prices, according to analysts paying attention to the Gulf region where many of the American oil and gas rigs are based. Continued tension in the Middle East region is also contributing to the anxiety. The war between Israel and Hezbollah and sectarian violence dominating the headlines in Iraq has been playing havoc with crude oil prices since the conflict began. AAA's Fuel Gauge Report is based on data from Oil Price Information Service (OPIS), the nation's most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet at www.fuelgaugereport.com 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. Note to Colorado Media: For daily OPIS updates, visit www.aaa.com/fuelgauge or www.fuelgaugereport.com. Data is usually 24-48 hours old and is based on credit card transactions taken from 60,000 gas stations nationwide. To calculate fuel costs for a road trip, go to www.fuelcostcalculator.com. AAA Colorado reaches one in four households in the state and is an advocate for safety and security for all travelers. As North America’s largest motoring and leisure travel organization, AAA provides its nearly 49 million members with travel, insurance, financial and automotive-related services, as well as member-exclusive savings. ###
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