SOURCE: Auto Club of Southern California

January 05, 2007 03:05 ET

Gas Prices Tick Back Downward in the New Year; Still 40 Cents Higher Than Beginning of 2006, Says Auto Club

LOS ANGELES, CA -- (MARKET WIRE) -- January 5, 2007 -- Southern California is beginning the new year with gas prices that are about 40 cents higher than last year, 60 cents higher than two years ago, and a dollar higher than three years ago, 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 $2.627, which is eight-tenths of one cent lower than last week, 15 cents higher than last month, and 42 cents higher than last year. In San Diego, the price is $2.679, also eight-tenths of a cent below last week's price, 13 cents above last month, and 39 cents above last year. On the Central Coast, the average price is $2.838, unchanged from last week, 12 cents above last month, and 45 cents higher than last year. In the Inland Empire, the average price is $2.633, 1.2 cents below last week, 13 cents higher than last month, and 38 cents higher than last year.

"After an unusual three-week price increase in December, prices have settled back into a pattern of very little change that we have seen in past years around this time," said Auto Club spokesperson Carol Thorp. "We are starting 2007 with price averages that are 16 to 18 percent higher than they were at the beginning of 2006, 30 percent higher than January 2005 and 60 percent higher than they were in January 2004."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Jan. 5:

                                          Price  Price    Price
                                           1st    1st      1st
                               One-week   Week    Week     Week   Record
    Area              Regular   change    2006    2005     2004   Price
---------------------------------------------------------------------------
Los Angeles - Long
 Beach                $2.627  -0.8 cent  $2.238  $1.999  $1.626   $3.402
                                                                (5/13/2006)

Orange County         $2.576  -0.5 cent  $2.213  $1.976  $1.604   $3.371
                                                                (5/17/2006)

San Diego             $2.679  -0.8 cent  $2.315  $2.028  $1.656   $3.438
                                                                (5/15/2006)

Santa Barbara - Santa
 Maria - Lompoc       $2.838  No change  $2.283  $2.124  $1.747   $3.491
                                                                (5/16/2006)

Riverside - San
 Bernardino           $2.633 -1.2 cents  $2.253  $2.007  $1.622   $3.445
                                                                (5/15/2006)

Bakersfield           $2.625 -2.2 cents  $2.355  $1.995  $1.634   $3.450
                                                                (5/16/2006)

Las Vegas, NV         $2.552  +0.9 cent  $2.183  $1.867  $1.615   $3.176
                                                                (5/17/2006)

Contact Information

  • Contact:
    Marie Montgomery/Jeffrey Spring
    (714) 885-2333