(LOS ANGELES, April 18, 2008) - More than two weeks of daily gas price records in Southern California show no signs of slowing down yet, 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 $3.806, which is 7 cents more than last week, 19 cents higher than last month, and 49 cents above last year. In San Diego, the price is $3.832, which is 7.8 cents higher than last week's price, 19 cents above last month, and 49 cents higher than last year. On the Central Coast, the average price is $3.919, up 6 cents from last week, 18 cents above last month, and 48 cents more than last year. In the Inland Empire, the average price is $3.813, 8.2 cents over last week, up 19 cents from last month, and 47 cents higher than last year.
"Industry analysts report that oil and sholesale gasoline continue to break records because of investment in these commodities due to the declining value of the dollar, and this is pushing gas prices to daily records at the pump," said Auto Club spokesperson Jeffrey Spring. "Gasoline inventories are also reported to be down, although some analysts say that is because refiners aren's producing as much fuel in response to lower consumer demand."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., April 18:
Los Angeles - Long Beach
+ 7 cents
+ 6.8 cents
+ 7.8 cents
Santa Barbara - Santa Maria - Lompoc
+ 6 cents
Riverside - San Bernardino
+ 8.2 cents
+ 6.3 cents
Las Vegas, NV
+ 5.8 cents