Auto Club: Gas Prices Set Another Monthly Record

(LOS ANGELES, Nov. 16, 2004) — While gas prices have been declining over the past two weeks, the monthly fuel price average for November still set a record high, according to the Automobile Club of Southern California monthly Fuel Gauge Report.

The Southern California November average price for regular self-serve unleaded gasoline is $2.374, which compares to the prior November record of $1.772 set in 2000. The November average also rose two cents compared to the October average of $2.352. Statewide, the average price for November is $2.355, up from $2.340 in October.

"Fuel prices peaked in late October and have been inching down since then," said Auto Club spokeswoman Carol Thorp. "Crude prices and demand are declining, and California refineries seem to be running smoothly, so we believe that Californians will see retail prices decline through Thanksgiving and into December."

The lowest average price in Southern California is in Escondido, where regular is selling for $2.265. Lompoc reported the state's highest average price at $2.542. Marysville in northern California had the lowest price in the state at $2.150. Nationally, the average price is $1.96, down from $1.97 in October.

In Southern California, the averages for regular and premium grades of gasoline are listed below:

The Auto Club's Fuel Gauge Report is based on data gathered from monitoring fuel transactions at 2,800 Southern California gas stations. Oil Price Information Service — the nation's most comprehensive source of petroleum pricing information, provides the data.

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