AAA Texas: Gas Prices Show Moderate Increase After Ike

HOUSTON, TX--(Marketwire - September 18, 2008) - The average price of a gallon of gasoline increased over 16 cents in Texas compared to last week. Still, the state average of $3.701 is about 13 cents lower than the national average which also increased over 16 cents to $3.835.

In Houston gas is at $3.692, up 23.7 cents from last week, but still below the national and state averages.

"As South Texas recovers from Hurricane Ike, AAA Texas is finding that gas prices jumped significantly but according to Thursday's numbers the rate of increase has slowed in the past couple of days, so we may be nearing a peak," said AAA Texas Houston spokesperson Sarah Schimmer. "Oil prices this week are more than 50 dollars a barrel lower than their mid-July high, and the big question now is how long it will take the refineries and oil rigs to get power restored and come back online."

San Antonio, at $3.609, has the least expensive average price as compared to other metropolitan areas in the state. Corpus Christi reports the next least expensive gas in the state at $3.629. Dallas is reporting a price of $3.700 a gallon, an increase of 22.4 cents since last week.

Reporting the highest price in the state is Texarkana at $3.784 followed by Fort Worth at $3.704.

"There have been reports that some gas stations are trying to take advantage of customers, but AAA Texas has found that these stations are in the minority," Schimmer said. "If you feel you have been a victim of price gouging, keep your receipts and contact the Texas Attorney General's office to file a report."

Light, sweet crude oil reaching a record price of $147.27 a barrel on July 11, is currently a little over $96 a barrel. Gas reached a national peak average of $4.11 on July 17.

          Current  1 Week  Difference   Year   Difference  Record    Record
                   Ago                  Ago                High      High
                                                           Date      Price

         09/18/08 09/11/08 Difference 09/18/07 Difference   Date     Price

National    3.835   3.671    +0.164     2.790    +1.045    07/17/08  4.114

State       3.701   3.537    +0.164     2.685    +1.016    07/17/08  3.985

Amarillo    3.635   3.551    +0.084     2.893    +0.742    07/16/08  3.983

Austin-San  3.648   3.604    +0.044     2.726    +0.922    07/17/08  3.975
Marcos

Beaumont    3.700   3.633    +0.067     2.679    +1.021    07/16/08  4.001

Corpus      3.629   3.587    +0.042     2.639    +0.990    07/15/08  3.960
Christi

Dallas      3.700   3.476    +0.224     2.635    +1.065    07/16/08  3.983

El Paso     3.691   3.565    +0.126     2.857    +0.834    07/17/08  3.967

Ft. Worth   3.704   3.470    +0.234     2.620    +1.084    07/16/08  3.975

Galveston   3.641   3.487    +0.154     2.619    +1.022    07/14/08  3.968

Houston     3.692   3.455    +0.237     2.597    +1.095    07/17/08  3.960

San         3.609   3.555    +0.054     2.660    +0.949    07/16/08  3.957
Antonio

Texarkana   3.784   3.566    +0.218     2.718    +1.066    07/16/08  3.981
(TX Only)

Contact Information: Contacts: Dan Ronan - Statewide/Dallas Ronan.dan@aaa-texas.com danronan@sprint.blackberry.net 469-221-8217 office 469-583-7070 cell Sarah Schimmer - Houston Schimmer.sarah@aaa-texas.com 713-284-6552 office 281-797-7886 cell