AAA Reports Future Gas Prices Dependent on Path of Hurricane Wilma
MINNEAPOLIS, Oct. 18 /PRNewswire/ -- The nationwide average price for self-serve regular gasoline has dropped 9 cents per gallon since the middle of September, but still is about 74 cents higher than one year ago.
"In early September, pump prices soared in the wake of the destruction to refineries, drilling platforms and pipelines left by Hurricane Katrina. They began to recede by the middle of the month, but regained their upward momentum as Hurricane Rita struck on September 24," said Gail Weinholzer, AAA Minnesota/Iowa spokesperson. "Now Hurricane Wilma is forming in the Caribbean and could pose another threat to oil and gasoline production."
While potentially disastrous for Florida residents, a storm that crosses the southern portion of the Sunshine State would have the least impact on energy production and shipping. A storm track that heads toward Louisiana or Texas would set back recovery work and possibly require another temporary shutdown of the oil and gas infrastructure in the region. Nationwide gasoline prices are unlikely to drop further until the path of Hurricane Wilma is more clearly known.
Reports for October 18, 2005, reflect the following average prices per gallon for self-serve, regular unleaded gas:
Current Month Ago Year Ago
National $2.74 $2.83 $2.00
Iowa $2.53 $2.73 $1.93
Cedar Rapids $2.63 $2.70 $1.94
Davenport $2.62 $2.86 $1.94
Des Moines $2.46 $2.61 $1.91
Sioux City $2.57 $2.66 $1.91
Waterloo $2.48 $2.72 $1.91
AAA's Fuel Gauge Report is based upon data from the Oil Price Information Service, the nation's most comprehensive source of petroleum pricing statistics, and can be found at http://www.fuelgaugereport.com/ .
AAA ( http://www.aaa.com/ ) offers automotive, travel, insurance and financial services to more than 45 million members in the United States and Canada. AAA Minnesota/Iowa is part of The Auto Club Group, with 4.1 million members in eight Midwest states.
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