SOURCE: Auto Club of Southern California

July 28, 2006 03:01 ET

Auto Club: Gas Prices Drift Lower

LOS ANGELES, CA -- (MARKET WIRE) -- July 28, 2006 -- For the second straight week, gasoline prices drifted lower in most areas, according to the Automobile Club of Southern California's Weekend Gas Watch.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.267, which is 1.7 cents lower than last week, eight cents higher than last month and 69 cents higher than last year. In San Diego, the price is $3.304, 1.5 cents below last week's price, 12 cents above last month and 70 cents above last year. On the Central Coast, the average price is $3.402, down 1.5 cents from last week, five cents above last month and 73 cents higher than last year. In the Inland Empire, the average price is $3.292, down 1.4 cents from last week, eight cents above last month and 74 cents higher than last year.

"Motorists continue to use gasoline at high levels and that is drawing down inventories," said Auto Club spokesperson Jeffrey Spring. "There is no shortage of gas, but factors such as high demand and thin inventory generally lead to higher prices."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., July 28:

Area             Regular   Change from  Record Price
                           last week
Los Angeles-
Long Beach       $3.267    -1.7 cents   $3.402 (5/13/2006)

Orange County    $3.226    -1.4 cents   $3.371 (5/17/2006)

San Diego        $3.304    -1.5 cents   $3.438 (5/15/2006)

Santa Barbara-
Santa Maria-
Lompoc           $3.402    -1.5 cents   $3.491 (5/16/2006)

San Bernardino   $3.292    -1.4 cents   $3.445 (5/15/2006)

Bakersfield      $3.237    +0.7 cents   $3.450 (5/16/2006)

Las Vegas, NV    $3.012    +2.7 cents   $3.176 (5/17/2006)

Contact Information

  • Contact:
    Jeffrey Spring
    Paul Gonzales
    (714) 885-2333