Auto Club: Gas Prices Continue Free-Fall

(LOS ANGELES, Dec. 20, 2005) — The average price of a gallon of gasoline in Southern California fell nearly 35 cents in the past month as reduced demand, hefty inventories and increased production added downward pressure on oil prices, according to the Automobile Club of Southern California’s monthly Fuel Gauge Report.

The Southern California December average price for regular self-serve gasoline is $2.289, which compares to a Nov. 15 average of $2.637 — a decrease of 34.8 cents.

"Oil has gone from $70 per barrel in the early fall to around $60 today,” said Auto Club spokesperson Carol Thorp. “Christmas travelers in California can expect prices to continue downward through the New Year, but should expect to see them bottom out soon thereafter. Prices typically stabilize and begin to rise in early spring due to refinery maintenance and the annual switch to summer-blend fuel.”

Statewide, the average price for December is $2.250, down 33.1 cents from $2.581 in November. The all-time record high of $3.054 was set on Sept. 9. The lowest average price in Southern California is in La Habra, where regular is selling for $2.114. Blythe reports the region’s highest average price at $2.575.

Nationally, the average price is $2.210, down from $2.292 in November. The state with the lowest gas price average is Utah at $2.011. The nation’s highest average price is in Hawaii, where regular gasoline is selling for an average of $2.660.

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. Editors, for regional average daily fuel prices nationwide, please go to www.fuelgaugereport.com.

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