SOURCE: AAA Texas

January 04, 2008 01:01 ET

AAA Texas: Weekend Gas Watch

The New Year Brings New Highs

HOUSTON, TX--(Marketwire - January 4, 2008) - With the New Year comes new record high prices for the month of January plus a record price for crude oil, according to the AAA Texas Weekend Gas Watch.

The current statewide average of $2.93 is the highest average ever recorded by AAA Texas during the month of January.* The statewide average posted a weekly increase of nine cents. The national average is $3.052 a gallon, up seven cents.

"Retail gasoline prices have started to move upward as crude topped $100 a barrel for the first time this week," said AAA Texas spokesperson Rose Rougeau. "The swift increase in oil prices is partially blamed on supply concerns and speculative buying. Higher crude prices will ultimately mean higher pump prices for consumers."

El Paso has the lowest average on the list at $2.83 a gallon -- up three cents. Texarkana soared to the top of the list at $3.02 a gallon -- up 12 cents in one week.

Average Daily Prices as of 12:01 a.m., January 4, 2008

                                                                     Year
                         Weekly          Weekly            Record     Ago
Area             1/3/08  Change 12/27/07 Change 12/20/07   High     Average
----             ------- ------ -------- ------ -------- ---------  -------
                          +7.1            -0.4           $   3.227
National         $ 3.052  cents $  2.981   cent $  2.985  (5/24/07) $ 2.332

                          +8.6            -0.8           $   3.085
State            $ 2.925  cents $  2.839   cent $  2.847  (5/23/07) $ 2.204

Austin - San              +5.4            -0.7           $   3.048
 Marcos          $ 2.956  cents $  2.902   cent $  2.909  (5/22/07) $ 2.240

                          +8.5            -0.5           $   3.055
Beaumont         $ 2.936  cents $  2.851   cent $  2.856  (5/22/07) $ 2.174

                         +10.0            -2.0           $   3.011
Corpus Christi   $ 2.888  cents $  2.788  cents $  2.808  (5/23/07) $ 2.142

                          +9.1            -0.4           $   3.062
Dallas           $ 2.909  cents $  2.818   cent $  2.822  (5/24/07) $ 2.210

                          +3.4            -2.8           $   3.278
El Paso          $ 2.825  cents $  2.791  cents $  2.819  (5/26/07) $ 2.173

                          +9.6            +0.4           $   3.058
Ft. Worth        $ 2.910  cents $  2.814   cent $  2.810  (5/23/07) $ 2.201

Galveston -               +9.1            -1.7           $   3.056
 Texas City      $ 2.897  cents $  2.806  cents $  2.823  (5/22/07) $ 2.180

                          +9.3            -0.5           $   3.042
Houston          $ 2.895  cents $  2.802   cent $  2.807  (5/23/07) $ 2.181

                          +6.6            -1.8           $   2.994
San Antonio      $ 2.924  cents $  2.858  cents $  2.876  (5/24/07) $ 2.170

Texarkana (TX            +12.1            -1.0           $   3.070
 only)           $ 3.015  cents $  2.894   cent $  2.904 (11/10/07) $ 2.278

SOURCE: AAA Texas

*Average is not adjusted for inflation.

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