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AAA Hoosier Motor Club Gas Gauge
(June 18, 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
It’s been several days now since the price of crude oil made its historic run to $138 per barrel June 6. Since that time, oil prices have fluctuated, falling as low as $131 per barrel the middle of last week and then hitting a new high of $139.89 during intraday trading Monday. NYMEX West Texas Intermediate Crude Oil for July delivery closed down $0.60 yesterday at $134.01 per barrel.

The nationwide average price of self-serve gasoline also has increased, reaching an all-time high of $4.08 per gallon Monday before dropping back slightly in each of the last two days.

All of this volatility makes it difficult to know where prices are headed next.

Because the markets were buffeted by several bearish developments since June 6 – news that the economy and demand for petroleum is continuing to slow, Saudi Arabia’s announcement that it will produce up to 800,000 more barrels of oil per day, a firming U.S. dollar, and an increasing clamor for more government oversight of the commodity markets – it now appears likely that oil can maintain a price above $130 per barrel between now and July 4 based on current market dynamics.

The probability also exists that massive flooding in the corn belt of the United States will have a negative effect on the availability and price of ethanol in the second half of this year (the United States is rapidly displacing 10 percent of its oil-derived gasoline with ethanol). If that scenario plays out, higher ethanol costs could eventually have a negative effect on the gasoline that is blended with it because any shortage in ethanol availability would more than likely result in increased demand for conventional gasoline made from oil.

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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