Auto Club: Gas Prices Rocket...Downward

(LOS ANGELES, Aug. 1, 2008) - Gas prices dropped like a rock in the last week, setting a new one-week record for price reductions in most of the Southland, 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 $4.279 per gallon, which is 13.1 cents less than last week, 32 cents lower than last month, and $1.25 above last year. In San Diego, the price is $4.216, which is 14.9 cents under last week's price, 37 cents below last month, and $1.16 higher than last year. On the Central Coast, the average price is $4.382, down 12.4 cents from last week, 28 cents below last month, and $1.14 more than last year. In the Inland Empire, the average per gallon price is $4.259, 12.2 cents under last week, down 33 cents from last month, and $1.25 higher than last year.
 
"We've experienced several weeks in Southern California where gas prices shot up by two cents a day, but this is the only time we know of when they've plunged by about two cents daily for a week in a row," said Auto Club spokesperson Jeffrey Spring. "Lower demand and consumers shopping around for the best gas prices have helped play a role. But even with these sharp decreases, drivers are still paying over a dollar per gallon more than at this time last year."
 
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m. Aug. 1:
 
 

Area                   

 Regular

One-week

change

 

Record Price

 

Los AngelesLong Beach

$4.279

    - 13.1 cents

 $4.626 (6/21/08)

 

 

 

 

Orange County

$4.233

    - 12.5 cents

 $4.598 (6/19/08)

 

 

 

 

San Diego

$4.216

    - 14.9 cents

 $4.630 (6/19/08)

 

 

 

 

Santa BarbaraSanta MariaLompoc

$4.382

    - 12.4 cents

 $4.709 (6/21/08)

 

 

 

 

RiversideSan  Bernardino

$4.259

    - 12.2 cents

 $4.614 (6/22/08)

 

 

 

 

Bakersfield

$4.327

    - 10.6 cents

 $4.591 (6/24/08)

 

 

 

 

Las Vegas, NV

$3.970

    - 14.8 cents

 $4.279 (6/21/08)