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SOURCE: Auto Club of Southern California
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December 14, 2007 03:30 ET
Ho, Ho, Ho: Gas Prices Go Down, Down, Down for Third Straight Week, Says Auto Club
LOS ANGELES, CA--(Marketwire - December 14, 2007) - Gas prices dropped for the third week in a
row in Southern California, although they are still 75 to 80 cents higher
than this time last year, 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 $3.286, which is 5 cents lower than last week, 5 cents under
last month, and 80 cents more than last year. In San Diego, the price is
$3.310, which is 5 cents less than last week's price, 6 cents down from
last month, and 75 cents higher than last year. On the Central Coast, the
average price is $3.390, down 1.8 cents from last week, 6 cents below last
month, and 67 cents more than last year. In the Inland Empire, the average
price is $3.273, 4.5 cents under last week, 7 cents below last month, and
76 cents higher than last year.
"We are now in the time of year where gas prices are traditionally at their
cheapest levels because of lower nationwide demand and lower refinery
production costs, so it's not surprising that prices are declining," said
Auto Club spokesperson Carol Thorp. "Unfortunately, high oil prices and
market speculation created a three-month gas price spike this fall, so
there's still a long way to go to get to the levels we saw in September."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01
a.m., Dec. 14:
One-week
Area Regular change Record Price
Los Angeles - Long Beach $ 3.286 - 5 cents $ 3.487 (5/9/2007)
Orange County $ 3.241 - 5.3 cents $ 3.479 (5/8/2007)
San Diego $ 3.310 - 5 cents $ 3.503 (5/8/2007)
Santa Barbara - Santa Maria -
Lompoc $ 3.390 - 1.8 cents $ 3.614 (5/15/2007)
Riverside - San Bernardino $ 3.273 - 4.5 cents $ 3.486 (5/8/2007)
Bakersfield $ 3.282 - 1.4 cents $ 3.489 (5/7/2007)
Las Vegas, NV $ 3.084 - 3.4 cents $ 3.209 (5/29/2007)