(LOS ANGELES, Oct. 10, 2008) - Gas prices continued their no-end-in-sight downturn for the 16th consecutive week, dropping by more than a penny a day as world economic troubles and a resulting lower demand for gasoline pushed down crude oil prices, 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 $3.507 per gallon, which is 8.7 cents less than last week, 29 cents lower than last month, and 53 cents above last year. In San Diego, the price is $3.499, which is 9.8 cents under last week's price, 30 cents below last month, and 49 cents higher than last year. On the Central Coast, the average price is $3.576, down 11.3 cents from last week, 38 cents below last month, and 46 cents more than last year. In the Inland Empire, the average per gallon price is $3.488, which is 10 cents under last week, down 30 cents from last month, and 50 cents higher than last year.
"At the start of September, local gas prices were $1 higher compared to 2007; now, prices are just 50 cents higher than this time last year," said Auto Club spokesperson Jeffrey Spring. "This week, the Oklahoma state average price became the first to drop below $3 a gallon during this national downturn in gas prices."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m. Oct. 10:
Los Angeles – Long Beach
- 8.7 cents
- 10.6 cents
- 9.8 cents
Santa Barbara – Santa Maria – Lompoc
- 11.3 cents
Riverside – San Bernardino
- 10.0 cents
- 13.6 cents
Las Vegas, NV
- 9.1 cents