For Immediate Release Contact: Beth Nagusky June 2, 2004 287-4315

 Maine Gasoline Prices High but Stable

Statewide Average Gasoline Prices

The current statewide average price for regular gasoline is $2.11 per gallon, which is $0.01 higher than last week, $0.34 higher than a month ago and $0.69 higher than a year ago. High gasoline prices reflect the high price of crude oil which is currently selling for $42.33 per barrel. High crude oil prices have been attributed to a number of factors, including: increasing global oil demand, a weak U.S. dollar, OPEC production behaviors, political turmoil in Venezuela, tight U.S. refining capacity, and uncertainty and instability in the Middle-East, including this past weekend's terrorist attack on oil industry workers in Saudi Arabia.

As of June 2, 2004

Prices based on AAA Daily Fuel Gauge Report and www.mainegasprices.com (Northern Region)

Drivers Can Reduce Gasoline Costs

The best defense against high gasoline prices is to reduce gasoline consumption. Consumers can reduce consumption by 20% to 30% through a number of fairly simple steps: maintain properly inflated tires; obey the speed limit, keep your engine well-tuned and your oil changed; avoid sudden stops and starts, limit engine idling; remove excess weight from your vehicle; and combine errands to avoid the number of “cold starts.” For short trips, consider walking, biking or taking public transportation, if available. If you are in the market for a new vehicle, consider its fuel economy. Depending on the vehicle you drive, you could be paying as little as $.04 per mile or as much as $.2. In response to Governor Baldacci's initiatives, the State of Maine has reduced its annual travel expenses by over $1 million, and miles traveled by 18%, since fiscal year 2001.