For Immediate Release Contact: Beth Nagusky 287-4315

June 14, 2004

Maine Gasoline Prices Fall by One Cent

Statewide Average Gasoline Prices

The current statewide average price for regular gasoline is $2.08 per gallon, a penny lower than last week. This is the second week in a row that prices have dropped slightly. National motor gasoline inventories stood at 205.5 million barrels in the first week of June, approximately 4.6 million barrels lower than year ago levels. High demand for gasoline accounts for some of the decline in gasoline supply in inventories. According to the American Petroleum Institute, gasoline deliveries (a measure of demand) were up by 3.1% for the first four months of 2004 compared with the same period in 2003. Gasoline inventories are usually relatively flat in June, with most of the draws to meet peak demand seen in August and July.

As of June 14, 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 $.20. 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.