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AAA-CMC's Fuel Gauge Reports

Gas prices plummet one month after terrorist attacks

AURORA, Ill., Oct. 25, 2001-According to the AAA-Chicago Motor Club's most recent fuel gauge report, gas prices have plummeted an average of 43 cents throughout Cook County and downstate Illinois combined over the last month, while prices in northern Indiana fell more than 50 cents per gallon on average.

In Chicago and Cook County, self-serve regular gasoline now averages $1.564 per gallon, which is down 32 cents from last month and only up 1 cent from last year.

The price for self-serve regular in Illinois outside of Cook County is $1.347, 47 cents lower than September and 15 cents lower than last year's October price.

Motorists in Northern Indiana pay an average of $1.115 for self-serve regular gasoline. That price is 55 cents lower than last month and 29 cents lower than last year.

AAA-CMC reports that the military actions against Afghanistan have had no effect on global energy prices, as Afghanistan is not an oil producing or shipping nation. The club cautions, however, that if the United States decides to take significant action against major oil producing countries-such as Iran or Iraq-the worldwide price of crude oil could rise along with gasoline prices.

"The current decline in gas prices reflects a crude oil price stuck near $22 per barrel, and lower wholesale gasoline prices," said Steve Nolan, spokesman for the AAA-Chicago Motor Club. "These lower gas prices will be helpful to the U.S. economy as motorists find a few extra dollars in their family budget at the end of the month, and vacation is viewed as a bargain."

2001 AAA-Chicago Motor Club, all rights reserved