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AAA Hoosier Motor Club Gas Gauge
(July 23, 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
After briefly rallying Monday on the possibility that tropical storm Dolly might constitute a serious threat to oil infrastructure in the Gulf of Mexico, the price of oil tumbled $4 to $127 per barrel. That was $20 below the all-time high price of $147 per barrel set on July 11.

The continuing sell-off in oil futures is rapidly making an impression at retail gasoline pumps with the nationwide average price of self-serve regular gasoline falling nearly 7 cents per gallon since July 17 to $4.042 per gallon today.

Based on the apparent ongoing downward shift in oil prices, AAA believes that further gas price declines are possible if oil prices stay below $130 per barrel.

Although some commentators are saying the drop in oil and gasoline prices is due to the President’s decision to suspend an executive ban on off-shore oil drilling in the United States and his call for Congress to lift a similar ban, this seems doubtful since it would take several years before oil from these sources would be available to the market.

Instead it is much more likely the drop in oil prices is due to a continuing slide in demand for petroleum products here and abroad as economies continue to slow; especially in the United States and Europe. 

Whatever the reason for the decline in oil prices, American motorists should feel a little better knowing the cost of gasoline appears to have finally peaked after steadily increasing for most of this year and that prices should not rebound higher in the short term unless there is major supply disruption or unexpected development in the marketplace.

Even through this price break is certainly welcomed by Americans, it remains somewhat troubling to know that at least part of these price reductions are occurring as a result of negative economic conditions, and not because effective long-term solutions have been implemented to supply America’s energy needs.


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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