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AAA Hoosier Motor Club Gas Gauge
(July 30, 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
The price of oil and gasoline are both tracking lower this week. In fact, NYMEX West Texas Intermediate Crude Oil for September delivery closed down $2.54 yesterday at $122.19 per barrel. A new all-time high price of $147 per barrel was recorded just two weeks ago (July 11).

The price of oil has not been this low since early May.

While nationwide gasoline prices could certainly continue a downward swing over the next few weeks if overall demand remains depressed and the number of miles driven by American motorists continues to decline, it is very possible that refiners in the United States will look to trim their output in order to resist an increase in gasoline inventories and prevent further erosion of their profit margins. Such a move would undoubtedly slow the descent of prices at the pump as summer turns to fall.

As an example, Valero Energy Corp. said yesterday it will perform extended maintenance at six refineries between now and November after also reporting a sizable drop in quarterly profits. While such work is required from time to time, the move will reduce fuel output and tend to slow further reductions in gasoline pricing later in the year.

The decline in energy prices is primarily due to faltering demand for petroleum products in the United States as well as in other nations. 

As positive as the news is concerning falling gasoline prices, it is important for consumers to remember that the drop in fuel costs is mainly due to slower economic growth and that a rebounding economy later this year or next will increase demand for petroleum. It also is possible for oil exporting nations to trim output if they feel the price of oil has moved too low. On this topic, however, it is encouraging to note the president of OPEC, Chakib Khelil (Algeria's oil minister) was quoted this week saying world oil prices were due for a downward correction and that OPEC member nations ought not to respond to the lower prices by cutting production because the energy markets are coming into balance.


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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