MINNEAPOLIS, March 15 /PRNewswire/ -- The national average price of self-
serve regular gasoline is $2.048, less than 1 cent from the record high
average of $2.054 set on May 26, 2004. The current average is nearly 16 cents
higher than mid-February's $1.890 pump average and nearly 33 cents higher than
the $1.722 average paid a year ago.
"For several weeks, analysts have predicted new record high prices this
spring," said Dawn Duffy, AAA spokesperson. "The same dynamics that created
record high prices last year still exist today, including the seasonal switch
to summer fuel production. The one difference is that crude oil traded at
$37 per barrel a year ago, but now hovers near $54 today."
Tomorrow's OPEC meeting is unlikely to provide many clues about the future
price of oil, since most observers predict that the majority of cartel members
favor a "wait and see" approach to production and current crude prices.
Reports for March 15, 2005, reflect the following average prices per
gallon for self-serve, regular unleaded gas:
Current Month Ago Year Ago
National $2.05 $1.89 $1.72
Minnesota $2.02 $1.89 $1.67
Duluth $2.01 $1.88 $1.69
Minneapolis/St. Paul $2.02 $1.89 $1.64
Rochester $2.08 $1.88 $1.67
St. Cloud $2.04 $1.88 $1.68
AAA's Fuel Gauge Report is based upon data from the Oil Price Information
Service, the nation's most comprehensive source of petroleum pricing
statistics, and can be found at http://www.FuelGaugeReport.com .
AAA offers automotive, travel, insurance and financial services to more
than 45 million members in the United States and Canada. AAA Minnesota/Iowa
is part of The Auto Club Group, with 4.1 million members in eight Midwest
states. AAA Minneapolis serves nearly 176,000 members in Hennepin County.
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