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AAA Hoosier Motor Club Gas Gauge
(July 2, 2008)

National Unleaded Retail Gas Price Averages

Indiana’s Unleaded Retail Gas Price Averages

Highest Recorded Price:

Retail Gas Price Averages (Indiana Metro)
Updated average prices for unleaded retail gasoline in some Indiana metro areas can be found online through AAA’s Daily Fuel Gauge Report site. Please click on View Indiana Metro Areas.


Retail Gas Price Averages (State-by-State)
Updated state-by-state unleaded retail gasoline price averages can be found online through AAA’s Daily Fuel Gauge Report site. Please click on View State-by-State Averages.


Market Overview
New records are again being set for the nationwide average price of gasoline. Self-serve regular gas now averages $4.092 per gallon; the highest average price ever paid by American drivers while the price of crude oil, which hit a new all-time high of $143.63 per barrel Monday before backing down to $140 per barrel, continues to be one of the primary contributing variables. 

The higher prices across the gasoline supply chain in the last week are also being driven by a continuing sense that global oil output is still barely keeping up with demand, belief that the U.S. dollar (which has shown renewed signs of moving lower against other major currencies this week) will stay weak, and rising worries that Israel is getting restless about the threat posed by Iran’s nuclear ambitions and the upcoming U.S. elections.

Of these three factors, the most worrisome for the moment is the situation regarding Israel and Iran. In the past week, military and political commentators have begun speculating that Israel is preparing for a possible attack on Iran’s nuclear installations. These experts point out that if Israel wants to be completely assured of military and diplomatic backing by the United States, it needs to act in the next few months. This is because there are significant odds that a new administration in Washington, D.C. might be less sympathetic to Israel’s geopolitical situation, and that would make it harder for Israel to successfully confront the Iranians in the future, if they chose to do so.

The risks of a military action involving Iran are extremely high for a variety of reasons. Where motorists are concerned, however, the most problematic outcome could be an extreme spike in the price of oil and gasoline. This could be caused by the possible – although presumably temporary - shutdown of oil shipping through the Straits of Hormuz.

The second most troublesome situation is regarding oil output. Although the International Energy Agency cut its demand forecast for the next five years yesterday, the group also said global demand for petroleum will nevertheless continue to climb from current levels. According to the IEA forecast, the world’s oil appetite will be curbed somewhat by slower economic growth and conservation, but consumption will still have increased 7 million barrels per day by 2013. The agency also said it does not agree with those who claim excessive speculation in energy futures contracts are driving up prices.

Thirdly, the U.S. currency remains under significant pressure, partly because of the pain high oil prices are inflicting on the country’s economy as well as the Federal Reserve’s continuing policy of keeping rates low so as not to further depress asset prices.


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’s 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.

15 Ways to Stretch a Tank of Gas

One of the primary benefits of keeping a car properly maintained is maximizing fuel mileage. According to recent statistics, a neglected car can increase fuel consumption by 10 to 20 percent. Of course, individual driving habits also make a difference. The U.S. Department of Energy reports that practicing fuel efficient driving techniques can improve fuel mileage by more than 10 percent.

• Be sure your tires are properly inflated. Under inflated tires can cause fuel consumption to increase by 6 percent. Check your tires with a gauge regularly. Radial tires can be under inflated and still look normal.
• Keep your suspension and steering in proper alignment and make sure your brakes are properly adjusted to minimize rolling resistance.
• Change your motor oil as recommended by the vehicle manufacturer.
• Check and replace air filters. Clogged filters can cause up to a 10 percent increase in fuel consumption.
• Follow the recommended engine maintenance schedule in your owner’s manual to ensure optimal engine performance and to conserve fuel.
• Don't use premium fuel if your car doesn’t require it. The expense is not necessary.
• Observe the speed limit. As you drive faster, aerodynamic drag increases. As a result, at speeds above 55 mph, fuel economy decreases rapidly.
• Use your overdrive gears during highway driving. This decreases your car’s engine speed, reducing fuel consumption and engine wear.
• Take advantage of cruise control features to help you maintain a constant speed when traveling on highways.
• Avoid hard acceleration and drive defensively; try to brake and accelerate smoothly.
• Idling unnecessarily wastes fuel.
• Run errands with a plan. Try to make one trip instead of three.
• Take a load off your wheels. A vehicle weighed down with heavy items can increase fuel consumption by 1 or 2 percent.
• Travel light. A loaded roof rack can decrease fuel economy by 5 percent.
• If possible, take advantage of carpools or ride-share programs.

AAA

AAA Hoosier Motor Club is a fully tax-paying, not-for-profit corporation that offers a wide range of services. The 405,000-member affiliate of the American Automobile Association (AAA) works for the improvement of motoring and traveling conditions within its 50-county Indiana territory. AAA is the largest motoring and traveling organization in the world with more than 51 million members.

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