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Gasoline edges lower, breaking streak
Prices ease a tenth of a cent to $1.752 a gallon after hitting a string of record highs.
April 2, 2004: 7:03 PM EST

NEW YORK (CNN/Money) - Gasoline prices fell Tuesday for the first time in a week, the AAA motor club said Wednesday.

Self-serve regular gasoline averaged $1.752 per gallon, down one-tenth of a cent from the previous day's all-time high, the AAA said as high gasoline prices have emerged as an issue in the campaign for November's U.S. presidential election.

The AAA, formerly the Automobile Association of America, has reported record high prices in its weekday price surveys since March 23, or six in a row until the Tuesday slip.

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The AAA does not conduct surveys on Saturdays or Sundays.

The Energy Information Administration, the statistics arm of the U.S. Department of Energy, said Monday its latest weekly survey of retail outlets showed an average of $1.758 a gallon for self-serve regular.

The private Lundberg survey also showed a record gasoline price. It said self-serve regular averaged $1.77 per gallon, a record on the books of this industry analyst.

While U.S. gasoline prices are considered high, prices at the pump in industrialized Europe are about three times the U.S. average.

And, when adjusted for inflation in 2004 dollars, the highest gasoline price was $2.99 a gallon in March 1981, according to the EIA.  Top of page

-- Reuters contributed to this story.



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