National Average Gas Price Falls to Lowest Level Since Mid-July: AAA Texas Monthly Fuel Gauge Report

HOUSTON--Nov. 1, 20032, 2003--The nationwide average price of self-serve regular gasoline has fallen to its lowest level since mid-July of this year. Today's price of $1.501 per gallon for self-serve regular gasoline is three-tenths of a penny lower than the $1.504 recorded by AAA's daily online Fuel Gauge Report on July 17th and is a drop of six cents since mid-October when the average price was $1.561 per gallon.

Gasoline reached a record high price of $1.737 per gallon over the Labor Day weekend this year. Today's price is 23.6 cents lower than at that time, but is 4.3 cents per gallon higher than one year ago when the average price was $1.458 per gallon.

The statewide average for self-serve, regular gasoline in Texas is $1.364, which is about three cents less than last month's average and about a penny less than last year's average of $1.377, according to AAA Texas.

AAA's Fuel Gauge Report is based on data from the Oil Price Information Service, the nation's most comprehensive source of petroleum pricing information.

AAA Texas, an affiliate of AAA National, has been serving Texans since 1902. Today, more than a million AAA Texas members benefit from the organization's roadside assistance service, insurance and financial products, travel agency, automotive pricing, buying and financing, trip planning services, and traffic safety programs. Information about these products and services is available on AAA Texas' Web site at www.aaa-texas.com.

                  AAA Texas Fuel Gauge Monthly Report
             AVERAGE PRICE OF SELF-SERVE REGULAR GASOLINE

   Metro          State  Nov. '03 Oct. '03 Sept. '03 Aug. '03 July '03
   -----          -----  -------- -------- --------- -------- --------
Abilene            TX      1.421    1.454    1.544     1.493    1.455
Amarillo           TX      1.387    1.426    1.527     1.540    1.445
Austin             TX      1.374    1.391    1.507     1.449    1.406
Beaumont           TX      1.376    1.395    1.541     1.497    1.449
Brownsville        TX      1.285    1.358    1.429     1.444    1.394
Corpus Christi     TX      1.249    1.352    1.449     1.454    1.387
Dallas             TX      1.412    1.454    1.559     1.505    1.454
El Paso            TX      1.461    1.459    1.602     1.491    1.419
Fort Worth         TX      1.389    1.414    1.530     1.485    1.433
Houston            TX      1.376    1.415    1.536     1.475    1.424
Laredo             TX      1.281    1.341    1.488     1.429    1.402
Longview           TX      1.391    1.404    1.484     1.473    1.397
Lubbock            TX      1.377    1.374    1.503     1.497    1.446
Midland            TX      1.387    1.415    1.518     1.484    1.458
Odessa             TX      1.374    1.377    1.516     1.493    1.425
San Antonio        TX      1.332    1.359    1.475     1.440    1.402
Waco               TX      1.320    1.357    1.489     1.451    1.401
Average            TX      1.364    1.397    1.512     1.477    1.423