AAA Texas: Gasoline Prices Continue Steady Downward Movement in Advance of Holiday and Tropical Storm "Gustav"

 | Source: AAA Texas AAA Texas

DALLAS, TX and FORT WORTH, TX--(Marketwire - August 28, 2008) - Texans are continuing to see significant relief at the gasoline pump as prices statewide fell more than seven cents last week, pushing the average price of a gallon of unleaded regular to $3.47, almost 19 cents below the national average of $3.66. Oil and gasoline prices reached a peak on July 17th and since that time they've dropped every day.

This week Houston has the least expensive gas at $3.39 where prices dropped nine cents. El Paso has the most expensive gas at $3.60. There prices fell slightly more than a nickel. The latest numbers show even as prices fall, drivers are conserving fuel and demand is dropping. Labor Day weekend traditionally marks the end of the summer driving/vacation season. In fact, AAA Texas is predicting about 2.55 million Texans are expected to make end-of-summer trips this weekend, down by about 1.1% compared to 2007. Nationally, 34.4 millions are expected to travel, a drop of .9% from last year's holiday.

In Texas, more than 85 percent, or 2.1 million people, are expected to go by car to their destinations. Another 211,000 travelers are expected to fly. The others are expected to travel by bus or train.

"Many Texans still plan to travel over the holiday, but high gas prices and a slower economy means more of them are taking trips closer to home. Even as oil prices on world markets have moved up and down this week in anticipation of 'Gustav,' the cost of gasoline is dropping. The storm is a wildcard and AAA Texas is watching where it might make land and how it could impact drivers, especially if people are required to evacuate," says AAA Texas spokesman Dan Ronan. 

                                                             Record  Record
                    1 Week                                    High   High
           Current    Ago    Difference Year Ago Difference   Date   Price
           -------- -------- ---------- -------- ---------- -------- ------
           08/28/08 08/21/08 Difference 08/28/07 Difference   Date   Price
           -------- -------- ---------- -------- ---------- -------- ------
National      3.660    3.702     -0.042    2.758     +0.902 07/17/08  4.114
           -------- -------- ---------- -------- ---------- -------- ------
State         3.474    3.549     -0.075    2.663     +0.811 07/17/08  3.985
           -------- -------- ---------- -------- ---------- -------- ------
Amarillo      3.482    3.593     -0.011    2.880     +0.702 07/16/08  3.983
           -------- -------- ---------- -------- ---------- -------- ------
Austin-San
 Marcos       3.527    3.594     -0.067    2.681     +0.846 07/17/08  3.975
           -------- -------- ---------- -------- ---------- -------- ------
Beaumont      3.504    3.565     -0.061    2.608     +0.896 07/16/08  4.001
           -------- -------- ---------- -------- ---------- -------- ------
Corpus
 Christi      3.428    3.509     -0.081    2.574     +0.854 07/15/08  3.960
           -------- -------- ---------- -------- ---------- -------- ------
Dallas        3.421    3.504     -0.083    2.616     +0.805 07/16/08  3.983
           -------- -------- ---------- -------- ---------- -------- ------
El Paso       3.605    3.660     -0.055    2.770     +0.835 07/17/08  3.967
           -------- -------- ---------- -------- ---------- -------- ------
Ft. Worth     3.412    3.489     -0.077    2.614     +0.798 07/16/08  3.975
           -------- -------- ---------- -------- ---------- -------- ------
Galveston     3.422    3.517     -0.095    2.622     +0.800 07/14/08  3.968
           -------- -------- ---------- -------- ---------- -------- ------
Houston       3.395    3.487     -0.092    2.590     +0.805 07/17/08  3.960
           -------- -------- ---------- -------- ---------- -------- ------
San
 Antonio      3.490    3.566     -0.076    2.671     +0.819 07/16/08  3.957
           -------- -------- ---------- -------- ---------- -------- ------
Texarkana
 (TX Only)    3.497    3.552     -0.055    2.635     +0.862 07/16/08  3.981
           -------- -------- ---------- -------- ---------- -------- ------

Contact Information: Contacts: Dan Ronan - DFW/Statewide 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 Sonta Henderson - Austin Henderson.sonta@aaa-texas.com 512 444 4757 ext. 224 512 899 8046