Another Bump for Gas Prices

(LOS ANGELES, Oct. 21, 2010) – Continued high crude oil and ethanol prices have further pushed up local gas prices in the past week, 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 $3.138 per gallon, which is 3.7 cents more than last week, 16 cents higher than last month, and 13 cents higher than last year. In San Diego, the price is $3.153, which is also 3.7 cents more than last week’s price, 16 cents above last month, and 17 cents higher than last year. On the Central Coast, the average price is $3.190, up 2.8 cents from last week, 14 cents higher than a month ago, and 11 cents above last year. In the Inland Empire, the average per gallon price is $3.129, which is 4.3 cents higher than last week, 16 cents higher than last month, and 14 cents more than last year.
“The commodities market for corn, which is used in most ethanol produced in the U.S., has been skyrocketing since September,” said Auto Club spokesperson Jeffrey Spring. “It remains to be seen whether prices will be further impacted by last week’s decision to boost the allowed ethanol content of gasoline from 10 to 15 percent.”
The Weekend Gas Watch monitors the average price of gasoline. As of 1 p.m. on Oct. 21, averages are:
Record Price
Los Angeles – Long Beach
     +3.7 cents
 $4.626 (6/21/08)
Orange County
     +3.6 cents
 $4.598 (6/19/08)
San Diego
     +3.7 cents
 $4.630 (6/19/08)
Santa Barbara – Santa Maria – Lompoc
     +2.8 cents
 $4.709 (6/21/08)
Riverside – San  Bernardino
     +4.3 cents
 $4.614 (6/22/08)
      +3.9 cents
 $4.591 (6/24/08)
      +4 cents
 $4.625 (6/18/08)

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Marie Montgomery
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