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Gas Price Run-up Pauses

Fewer plan to hit the road this July 4th

By Joe Benton
ConsumerAffairs.com

June 27, 2008

• Gas Prices Fall for 37 Days • Gas Prices Slide 8 Percent from Record • Gas Prices Creep Down • Oil Price Trend May Be Good News For Consumers • Gasoline Drops Below $3.90 a Gallon • Gas Prices Pull Back Slowly • Oil Prices Fall As Storm Misses Rigs • Latest Gas Price Round-Up • 'Run Your Car On Water' Scheme Could Leave Consumers All Wet • Unregulated Energy Trading Blamed for Much of Gas Price Gusher • Airlines Join Effort To Limit Oil Speculators • Questions Raised about MyGallons.com • 'Hypermiling' Is Dangerous, Says AAA • Struggling Drivers Blame Washington for High Gas Prices • What’s Really Fueling Those Sky-High Oil Prices • Credit Card Fees at the Pump are a 'Hidden Tax' on Consumers • Survey: 3 Out of 4 Angry About High Gas Prices • $2 A Gallon Gas Possible, Analysts Tell Congress • Speculators Buy More Oil Contracts Than Oil Companies • Saudis to Pump More Oil • Limiting Oil Speculators Gains Ground • Congress To Probe Oil Price Spike • Oil Market 'Saturated,' Iran Claims • Feds See No Relief from High Gas Prices • High Gas Prices Could Mean Lower Insurance Rates • High Gas Prices Good For Kia, Honda • Gas Prices Rip Past $4 and Keep Climbing • Administration, OPEC See Different Causes Of Oil Surge • Feds Probing Possible Oil Market Manipulation • Beware of Fuel Sippers Sipping High-Test • Retailers Respond to High Gas Prices with Discounts, Promotions • Rushing Into a Smaller Car Too Soon May Not Save Money • Hybrid Sales and Prices Climb in Lockstep with Gas Prices • Truckers Bemoan Burden of High Diesel Costs • Gas Prices Biting into Worker Productivity • Consumers Warned About Gas-Saving Schemes • Is Tony Soprano Controlling Gas Prices? • Oil & Gas: The New Bubble • Critics: New Federal Gas Mileage Standard Falls Short • Consumers Feeling Pain of Skyrocketing Gas Prices • New Gas Price Record Forecasts Expensive Summer Driving Season --- • More ...

The run-up in gasoline prices took a break this week and the cost of a gallon of regular self-serve declined almost a penny, in part because over the past four weeks, gasoline demand fell more than 2 percent, according to the U.S. Energy Department.

The national average price for regular is still well above last year at $4.066 a gallon though. One year ago a gallon of regular gasoline cost $2.975, according to the AAA Fuel Gauge Report.

Gasoline prices have increased a whopping 37 percent over the last year.

The high gas prices are cutting into both work and recreation.

AAA reports the number of Americans traveling during the Fourth of July holiday will decline. The travel club projects that 40.45 million drivers will travel during the holiday weekend, a decrease of 1.3 percent from the 41 million who traveled last year.

"Clearly gas prices are continuing to take a toll on the traveler's budget," said AAA President and CEO Robert L. Darbelnet in a statement.

Nevertheless, more than 13 percent of the country will be on the roads during the holiday weekend, according to AAA.

California continues to suffer from the hiest average gasoline price in the country at $4.590 a gallon. Missouri enjoys the lowest average gas prices at $3.839 a gallon.

California: While California leads the country with the highest average gasoline prices, the cost of a gallon of regular in the state declined slightly over the week dropping almost 2 cents to $4.59 a gallon.

A new survey by the Automobile Club of Southern California indicates that 41 percent of its members plan to travel about the same amount this summer as last year, while 26 percent plan to take more trips than last year and 33 percent expect to take fewer trips.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $4.610, which is 1.6 cents less than it was on June 20. In San Diego, the price is $4.596, a drop of 3.4 cents since last week.

The highest average price in California is found in Santa Barbara where regular self-serve sells for $4.672 a gallon. Even that price is down three cents in a week.

The lowest average price in California is found in Modesto at $4.522.

Texas: The average price of gasoline in Texas moved slightly lower during the week.

AAA Texas reported the statewide average for self-serve regular is $3.92 per gallon, down .7 cents since last week.

AAA said Beaumont and the Dallas-Fort Worth areas have the most expensive gasoline this week in Texas at $3.94 per gallon.

Corpus Christi has the least expensive gasoline, averaging $3.88 per gallon.

Florida: Regular gasoline in the Sunshine states averages $4.031 a gallon. One month ago regular sold for $4.944 throughout the state and one year ago regular cost $2.932 in Florida.

Regular gasoline sells for $4.125 a gallon in Miami, $4.04 in Daytona Beach and $3.945 in Orlando.

Virginia: Gasoline prices have declined slightly in the Old Dominion. AAA Mid-Atlantic reported the Virginia average price is now $3.97 a gallon.

The average price for a gallon of unleaded regular gasoline in Richmond is down 2 cents this week and sits at $3.96 per gallon.

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