Uncertain World Markets, Low Inventories and Pipeline Problems Cited
(LOS ANGELES, Aug. 12, 2003) While the average price of gasoline in Southern California dropped again compared to last month, the trend is being reversed due to recent concerns over the availability of Iraqi oil and tight gasoline inventories in the U.S. In addition, a pipeline shutdown last Friday between Phoenix and Tucson, Ariz., has caused spot prices in Los Angeles to spike.
The average price for a gallon of regular gas in Southern California is 3.6 cents lower than last month, according to the Automobile Club of Southern California's monthly Fuel Gauge Report, but various cities have reported increases of 3-5 cents per gallon on average in the past week.
The Southern California average price for regular self-serve unleaded gasoline is $1.727, down from $1.763 on July 12. Prices in most Southern California cities are down compared to last month, but up compared to last week. Los Angeles area prices have increased 3.4 cents per gallon compared to last Tuesday, Aug. 5. During the same week, Bakersfield climbed by 3.3 cents Riverside climbed by 7 cents.
The lowest average price in Southern California is La Habra, where drivers can pump regular self-serve unleaded gasoline for an average $1.616. Blythe has the highest average price at $1.929. San Francisco Bay-area motorists now pay an average of $1.85, down five cents from July. Nationally, prices are up 5 cents since the July AAA survey and are now averaging $1.57 per gallon.
"Prices had been inching lower for most of the summer. This past week has reversed that trend, and the international oil market uncertainties, combined with regional refinery and pipeline problems, may keep prices on the upswing for a few days," said Auto Club spokesperson Carol Thorp.
In Southern California, the averages for regular and premium grades of gasoline are listed below:
|County And City||Unl||Pre|
|Los Angeles County|
|San Bernardino County|
|San Diego County|
|San Luis Obispo County|
|SAN LUIS OBISPO||1.770||2.003|
|Santa Barbara County|
|So. Calif. Avg.||1.727||1.927|
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.
The Automobile Club of Southern California, the largest affiliate of the AAA, has been serving members since 1900. Today, the Auto Club's members benefit by roadside assistance, insurance products and services, travel agency, financial products, automotive pricing, buying and financing programs, automotive testing and analysis, trip planning services, highway and transportation safety programs. Information about these products and services is available on the Auto Club's Web site at www.aaa-calif.com.