LOS ANGELES, CA -- (MARKET WIRE) -- April 27, 2007 -- Southern Californians are used to stop-and-go traffic, but stop-and-go gas prices are something new. The month of April saw two weeks of penny-a-day price increases alternating with two weeks of prices leveling off, and the month is ending with pump prices barely budging during the past week, 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 $3.326, which is half a cent higher than last week, 16 cents higher than last month, and 16 cents higher than last year. In San Diego, the price is $3.349, which is four-tenths of a cent above last week's price, 15 cents above last month, and 16 cents above last year. On the Central Coast, the average price is $3.453, up 1.5 cents from last week, 19 cents above last month, and 20 cents higher than last year. In the Inland Empire, the average price is $3.345, six-tenths of one cent above last week, 16 cents higher than last month, and 14 cents higher than last year.
"Typically, price increases slow to a crawl when they're about to peak and head downward," said Auto Club spokesperson Carol Thorp. "However, malfunctions at several refinery units over the past couple of weeks have caused some unexpected shutdowns, reducing gasoline inventories and possibly adding more volatility to the fuel markets."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., April 27:
One-week
Area Regular change Record Price
Los Angeles - Long Beach $ 3.326 +0.5 cent $ 3.402 (5/13/2006)
Orange County $ 3.312 +0.3 cent $ 3.371 (5/17/2006)
San Diego $ 3.349 +0.4 cent $ 3.438 (5/15/2006)
Santa Barbara - Santa Maria -
Lompoc $ 3.453 +1.5 cents $ 3.491 (5/16/2006)
Riverside - San Bernardino $ 3.345 +0.6 cent $ 3.445 (5/15/2006)
Bakersfield $ 3.350 +0.7 cent $ 3.450 (5/16/2006)
Las Vegas, NV $ 3.067 +2.1 cents $ 3.176 (5/17/2006)
Contact Information: Contact: Marie Montgomery/Jeffrey Spring (714) 885-2333