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AAA Hoosier Motor Club Gas Gauge - 5/7/08

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 nationwide average price of self-serve regular gasoline hit an all-time high of $3.623 last Thursday (May 1) prior to beginning a gradual decline. The minimal price reduction, which appears to have ceased at this time, was probably due to last week’s drop in the price of crude oil from around $120 per barrel to $111 last Friday.

The price of crude oil and of other commodities fell fairly dramatically after last Wednesday’s decision by the U.S. Federal Reserve Bank to cut the interest rate an additional quarter of a point, and to release a statement that no longer warned of significant risk to the United States economy.  These actions caused the dollar to strengthen against foreign currencies and sparked a brief sell-off in commodity futures.

However, the price of crude oil has once again returned to a mark above $120 per barrel.

Strangely enough, one factor that usually has an influence on crude oil pricing—oil inventories in the United States—does not seem be having much impact at this time. The numbers indicate a relatively healthy supply for this time of year, yet worldwide demand appears to be erasing the potential of any positive benefit.

Two other pieces of discomforting news came yesterday when both the U.S. Department of Energy and the investment firm of Goldman Sachs released reports saying they expected higher prices for crude oil in the future. The U.S. government increased its estimate for the average price of oil in 2008 from $101 to $110 per barrel, and Goldman Sachs said it is not beyond the realm of possibilities for oil to hit $200 per barrel by year end.

Where prices go from here depends to a large extent on the degree to which the American consumer is willing to spend money on gasoline this summer, and whether or not some unforeseen geopolitical event, a weather disaster or a breakdown in oil industry infrastructure happens over the next few months.


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.

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