Auto Club: Gas Prices Pause After Spiking By More Than 60 Cents

hands pull out money from wallet

As expected, Southern California gas prices began backing off their highest levels in four years earlier this week after refineries restarted production and the high prices attracted imported supplies, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail statewide average is $4.18 a gallon for regular unleaded, which is three cents higher than last week.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $4.25 per gallon, which is up one cent from than last week, 57 cents higher than a month ago, and 37 cents higher than last year. In San Diego, the average price is $4.19, which is the same as last Thursday, 55 cents higher than last month, and 35 cents higher than last year. On the Central Coast, the average price is $4.24, which is six cents higher than last week, 51 cents higher than last month, and 38 cents higher than last year. In Riverside, the average per-gallon price is $4.17, which is one cent higher than last week, 58 cents higher than last month, and 37 cents higher than last year. In San Bernardino, the $4.18 average price is three cents higher than last week, 51 cents higher than last month, and 38 cents higher than a year ago today.

"Los Angeles wholesale gasoline prices shot up by more than $1 a gallon between Aug. 19 and Sept. 30, and have now dropped by about 40 cents,” said Auto Club spokesman Jeffrey Spring. “We have already seen some of the lowest priced stations reducing their prices by five cents a gallon or more.”

Gas prices began increasing rapidly last month after Saudi Arabia oil production facilities were attacked, and the increases sharpened after two Los Angeles-area refineries slowed or halted production due to maintenance issues and no imported gasoline was available to make up for the shortfall. Local refineries had already cut back production of summer blend gasoline in anticipation of switching to selling the winter blend beginning Nov. 1, creating even more of a shortfall. 

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Oct. 10, averages are:

Area

Regular

 1-week change

Record Price

Los Angeles – Long Beach

$4.25

 +1 cent

 $4.70 (10/9/12)

       

Orange County

$4.21

 No change

 $4.69 (10/8/12)

       

San Diego

$4.19

 No change

 $4.72 (10/8/12)

       

Santa Barbara – Santa Maria –Lompoc

$4.24

 +6 cents

 $4.70 (6/21/08)

 

Riverside

$4.17

 +1 cent

$4.68 (10/8/12)

       

San Bernardino

$4.18

 +3 cents

 $4.68 (10/8/12)

       

Ventura

$4.23

 +2 cents

 $4.68 (10/7/12)

       

Bakersfield

$4.12

 +6 cents

 $4.64 (10/9/12)

Media Contacts

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