Auto Club: Gas Prices Backing Down After Refinery Issues Resolved

Oil barrels by Ian Burt
Photo by Ian Burt  https://www.flickr.com/photos/oddsock/ creativecommons.org/licenses/by/4.0/  

Gas prices are up for the week but are starting to drop again after a brief increase due to refinery issues that have apparently been resolved, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail statewide average is $4.07 a gallon for regular unleaded, which is one cent higher than last week.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $4.12 per gallon, which is up three cents from than last week, 14 cents lower than a month ago, and 34 cents higher than last year. In San Diego, the average price is $4.05, which is two cents more than last Thursday, 16 cents less than last month, and 30 cents higher than last year. On the Central Coast, the average price is $4.15, which is one cent higher than last week, eight cents lower than last month, and 37 cents higher than last year. In Riverside, the average per-gallon price is $4.02, which is two cents higher than last week, 16 cents lower than last month, and 33 cents higher than last year. In San Bernardino, the $4.05 average price is one cent higher than last week, 14 cents lower than last month, and 32 cents higher than a year ago today.

“Based on some substantial drops in Los Angeles wholesale prices over the past few days, we would expect retail gas prices to resume dropping as they had been in the last couple weeks of October,” said Auto Club spokesman Jeffrey Spring. “Oil industry analysts are predicting some significant price drops in December as well based on lower production costs for local refineries.”

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Nov. 7, averages are:

Area

Regular

 1-week change

Record Price

Los Angeles – Long Beach

$4.12

 +3 cents

 $4.70 (10/9/12)

       

Orange County

$4.07

 +2 cents

 $4.69 (10/8/12)

       

San Diego

$4.05

 +2 cents

 $4.72 (10/8/12)

       

Santa Barbara – Santa Maria –Lompoc

$4.15

 +1 cent

 $4.70 (6/21/08)

 

Riverside

$4.02

 +2 cents

$4.68 (10/8/12)

       

San Bernardino

$4.05

 +1 cent

 $4.68 (10/8/12)

       

Ventura

$4.11

 +1 cent

 $4.68 (10/7/12)

       

Bakersfield

$4.07

 -1 cent

 $4.64 (10/9/12)

Media Contacts

Marie Montgomery
(714) 885-2333
Montgomery.Marie@aaa-calif.com