AAA Hoosier Motor Club Gas Gauge
(August 8, 2007)
National Gas
Prices
(self-serve
regular unleaded)
Today:
$2.821
Yesterday: $2.831
One Month Ago: $2.965
One Year Ago: $3.036
Indiana Gas
Prices
(self-serve
regular unleaded)
Today:
$2.735
Yesterday: $2.727
One Month Ago: $2.962
One Year Ago: $3.076
Marketplace Overview
Despite fluctuating U.S. stock indexes, national gas price
averages have been steadily moving lower over the last few
weeks. In fact, today’s national average of $2.821 for
self-serve regular is nearly 5 cents less than what the
average was just one week ago.
The volatility on Wall Street seems to have spread to the
futures markets for oil and wholesale gasoline, however.
After testing new highs above $78 last week, the price of
NYMEX-traded WTI crude oil is now in the vicinity of $72 per
barrel; a decline of about 5 percent. The wholesale price of
reformulated gasoline (RBOB)—the blend most commonly used
during the summer months—also has been dropping.
Industry experts believe these are positive trends that may
be pointing toward even lower retail gasoline pricing as
motorists plan their end-of-summer travels. Unfortunately,
there is also increasing concern over the future strength of
the U.S. economy due to the potential fallout from the
current status of subprime home mortgages—which some
analysts estimate could result in millions of home
repossessions over the next few years—and lower demand for
many commodities and finished goods associated with the
construction industry.
AAA’s Daily Fuel Gauge Report
Current gas price averages can always be found on AAA’s
Daily Fuel Gauge Report at
www.fuelgaugereport.com. The 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 Cost Calculator
In order to help Americans establish travel budgets while
making vacation plans, AAA and Oil Price Information Service
have combined to offer an online tool that will help
travelers estimate the cost of gasoline they will use during
long-distance driving vacations. The site can be found at:
www.fuelcostcalculator.com.
Indiana Gas Gouging Hotline
The Indiana attorney general established a gas gouging
hotline early in 2004 for people who feel that local gas
stations are charging unfair prices. That telephone number
is (866) 241-9753.
AAA
AAA Hoosier Motor Club is a fully tax-paying, not-for-profit
corporation offering a wide range of member services. The
405,000-member affiliate of the American Automobile
Association (AAA) works for the improvement of motoring and
traveling conditions in the state of
Indiana.
AAA is the largest motoring and traveling organization in
the world with more than 50 million members.
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