On September 27, 2006, about 1815 mountain standard time, a Beech 95-55, N9412Y, experienced a loss of power in both engines and collided with terrain while on final approach to the Safford Regional Airport, Safford, Arizona. The pilot was operating the airplane under the provisions of 14 CFR Part 91. The private pilot, the sole occupant, sustained minor injuries; the airplane sustained substantial damage. The personal cross-country flight departed Austin-Bergstrom International Airport, Austin, Texas, about 1545 central daylight time, with a planned destination of Safford. Visual meteorological conditions prevailed, and a flight plan had not been filed. In both a written statement and telephone conversation with a National Transportation Safety Board investigator, the pilot reported that he purchased fuel prior to departure. He departed on the 635 nautical mile cross-country flight with about 120 gallons of fuel on board. While en route, the pilot noted the airplane's ground speed was around 140-145 knots, which he attributed to head wind conditions. At that time, he referenced the fuel gauge indications and determined that there was enough fuel for the remaining 1-hour flight to Safford. The pilot further stated that as he entered the proximity of Safford, he maneuvered the airplane in a gradual descent from 6,500 feet mean sea level (msl). He noted that the visibility conditions were hazy and it was difficult to accurately discern his distance from the runway. With the airplane an estimated 3 miles from the airport, he extended the landing gear and aligned the airplane on final approach to runway 26. As the pilot continued the approach, the left engine experienced a loss of power and quit. He positioned the fuel selector to the left auxiliary fuel tank and attempted to restart the engine. The right engine then experienced a loss of power and quit. The airplane descended rapidly and collided with terrain about 0.25 to 0.5 miles short of the runway. The pilot reported no preimpact mechanical malfunctions or failures with the airplane. He stated that the engines quit due to fuel exhaustion.