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AAA Hoosier Motor Club Gas Gauge
(March 26, 2008)

Market Overview
Last week’s broad-based decline in commodity prices has carried over into this week and the falling price of oil in particular has helped push the price of retail gasoline a little lower.

After dropping below $100 per barrel last Thursday, oil prices rallied somewhat on Friday and Monday but again fell below $100 early on Tuesday before closing the day at $101 per barrel.

The drop in oil prices from a record of $111.80 per barrel seems to reflect a growing realization by traders that consumers in the United States have cut their fuel use in response to high prices and a weakening economy, and that they are likely to continue doing so. This means less oil is being processed through refineries serving the U.S. market, although demand for petroleum is expected to keep growing in the emerging economies of Eastern Europe, India, China and Latin America.

The general downturn in commodities pricing within futures markets is being described as a “correction” by Wall Street analysts after prices ran into record territory in mid March. The falling prices were accompanied by a sudden strengthening of the U.S. dollar against foreign currencies last week, following news that the U.S. Federal Reserve Bank had assisted in the takeover of Bear Stearns by JP Morgan. That action provided the market with reassurance the central bank would be willing to backstop the solvency of leading non-bank brokers to protect holders and the credit markets overall.

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 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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