For Immediate Release Contact: Beth Nagusky

July 6, 2004 287-4315

Maine Gasoline Prices Fall Again by Five Cents

Statewide Average Gasoline Prices

The current statewide average price for regular gasoline is $1.91 per gallon; a five cent drop since last week, and the third significant decrease seen in three weeks. Retail gasoline prices are down throughout most of the country with New England seeing the largest decrease of 3.8 cents in the last week. This is the fifth week in a row that Maine gasoline prices have dropped. As of June 25th, national motor gasoline inventories stood at 204.1 million barrels, approximately 2.7 million barrels lower than year-ago levels. According to the latest available information from the American Petroleum Institute, gasoline deliveries (a measure of demand) were up by 2.6% for the first five months of 2004 compared with the same period in 2003. For more information on gasoline and energy issues in general, please visit the State of Maine's new energy information website at www.maineenergyinfo.com

As of July 6, 2004

Prices based on AAA Daily Fuel Gauge Report

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.