AAA Hoosier Motor Club Gas Gauge
(October 17, 2007)
National Gas
Prices
(self-serve
regular unleaded)
Today:
$2.776
Yesterday: $2.759
One Month Ago: $2.788
One Year Ago: $2.223
Indiana Gas
Prices
(self-serve
regular unleaded)
Today:
$2.763
Yesterday: $2.717
One Month Ago: $2.827
One Year Ago: $2.107
Marketplace Overview
A sudden upward swing in nationwide gas price averages over
the last couple of days may be a signal that the industry is
collectively beginning to respond to escalated crude oil
prices, which are now in the vicinity of $87 per barrel.
Crude oil was selling for as little as $55 per barrel last
February.
Current marketplace variables that appear to be affecting
crude oil, and thus gasoline prices include:
-
An unexpected drop in oil inventories this fall
-
OPEC holding the line on current production
-
A flare up of tensions between Iraq and Turkey that
could provoke a war in the oil-rich border area between
the two countries (that also neighbors Iran)
-
Continuing problems between Israel, Iran, Syria and the
United States
-
Labor problems in oil-rich Nigeria
-
The falling value of the U.S. dollar versus the Euro and
the expectation of oil-producing nations that they will
continue to maintain the same purchasing power on the
sale of their energy assets no matter what happens to
our currency
-
Expansion of the U.S. Strategic Petroleum Reserve and
similar reserves being held by other nations—and the
increasing demand for oil this creates
-
Excessive speculation in the commodities markets
(although commodity markets merely reflect where
investors believe a shortage exists—short-term or
long—that will push prices up)
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 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.
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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