After Dipping Under $3, SoCal Gas Price Drops Stop

empty fuel gauge

After many Southland gas price averages dropped below $3 this week, they ticked back upward in the last 24 hours, which could possibly mean a plateau or a turn back upward, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $2.924 a gallon for regular today, 3.4 cents less than last week.

 

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.046 per gallon, which is 4.1 cents less than last week, 42 cents less than last month, and 64 cents lower than last year. In San Diego, the average price is $2.992, which is 3 cents less than last week, 41 cents lower than last month, and 68 cents less than this time last year. On the Central Coast, the average price is $3.022, 3.3 cents less than last week, 46 cents lower than a month ago, and 66 cents less than last year. In the Inland Empire, the average per-gallon price is $2.966, 3.9 cents lower than last week, 42 cents less than last month, and 67 cents less than last year.

 

“Los Angeles wholesale fuel prices have been rising over the last couple of weeks, leaving little room for retail prices to drop further,” said Auto Club spokesman Jeffrey Spring. “Local refineries must have enough stock of summer blend gasoline to sell at gas stations until Nov. 1 due to California air quality requirements. If that supply is tight or in doubt, prices won’t drop further until the supply situation is resolved.”

 

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Oct. 8, averages are: 

 

Area

Regular

One-week

change

Record Price

Los Angeles – Long Beach

$3.046

    -4.1 cents  

  $4.705 (10/9/12)

 

 

 

 

Orange County

$2.996

 -2.5 cents

  $4.690 (10/8/12)

 

 

 

 

San Diego

$2.992

   -3.0 cents

  $4.725 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria – Lompoc

$3.022

   -3.3 cents

  $4.709 (6/21/08)

 

 

 

 

Riverside – San Bernardino

$2.966

  -3.9 cents

  $4.688 (10/8/12)

 

 

 

 

Ventura

$3.026

  -3.6 cents

  $4.689 (10/7/12)

 

Bakersfield                                           $2.920      -3.2 cents    $4.648 (10/9/12)