SOURCE: Auto Club of Southern California

July 07, 2006 03:01 ET

Auto Club: Gas Prices Turn Upward on Higher Demand

LOS ANGELES, CA -- (MARKET WIRE) -- July 7, 2006 --A seven week downward trend ended as consumer demand for gasoline pushed prices up across the Southland this 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 $3.253 which is 7.1 cents higher than last week, seven cents lower than last month and 77 cents higher than last year. In San Diego, the price is $3.260, 7.4 cents above last week's price, seven cents below last month and 73 cents above last year. On the Central Coast, the average price is $3.398, up 4.1 cents from last week, six cents below last month and 80 cents higher than last year. In the Inland Empire, the average price is $3.276, up seven cents from last week, eight cents below last month and 80 cents higher than last year.

"When prices reached record highs in May motorists cut back driving considerably. Lower demand helped push prices lower," said Auto Club spokesperson Carol Thorp. "But, declining prices and the start of summer resulted in higher demand for gas. That has put upward pressure on prices."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., July 7:

Area                         Regular   Change from      Record Price
                                        last week
----------------------       -------   -----------    -----------------
Los Angeles-Long Beach        $3.253    +7.1 cents    $3.402 (5/13/2006)

Orange County                 $3.222    +4.2 cents    $3.371 (5/17/2006)

San Diego                     $3.260    +7.4 cents    $3.438 (5/15/2006)

Santa Barbara-
 Santa Maria-Lompoc           $3.398    +4.1 cents    $3.491 (5/16/2006)

Riverside-
 San Bernardino               $3.276    +7.0 cents    $3.445 (5/15/2006)

Bakersfield                   $3.169    +2.7 cents    $3.450 (5/16/2006)

Las Vegas, NV                 $2.963    +1.8 cents    $3.176 (5/17/2006)

Contact Information

  • Contact:
    Carol Thorp
    Paul Gonzales
    (714) 885-2333