Gas price outlook remains bleak
7 May, 2004 LM Week in ReviewThe Associated Press recently reported that energy analysts predict high oil and gasoline prices will persist in the coming months due to increased global demand and the reluctance of oil producers to increase production. The bleak security situation in the Middle East is also a factor (See, "No end in sight for high oil and gasoline prices," AP via The Boston Herald, May 4, 2004).
On May 5, the AAA's Daily Fuel Gauge Report put the current national average price of regular gasoline at $1.84, up from $1.51 a year ago. California and Hawaii lead the nation with prices around $2.15 for regular. You can check AAA's State by State average for the bad news in your location.
LM's 2003 State of the Industry survey seemed to indicate that fuel costs were low on the list of priorities for our readers. We'd like to know if the current price spiral is of concern to you. Please take this month's online survey -- and we'll share the results next issue.
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