Auto Club: Price Spike Ends On News Of Higher Inventories

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

Southern California gas prices increased slightly this week after a brief spike at the start of October related to local refinery problems, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail statewide average is $3.81 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 $3.88 per gallon, which is up two cents from last week, 21 cents higher than last month, and 81 cents higher than last year. In San Diego, the average price is $3.84, which is three cents higher than last Thursday, 20 cents higher than last month, and 80 cents higher than this time last year. On the Central Coast, the average price is $3.86, which is two cents higher than week, 18 cents higher than last month, and 78 cents higher than last year. In Riverside, the average per-gallon price is $3.80, which is five cents higher than last week, 25 cents higher than last month, and 79 cents more than at this time last year.

“The latest California Energy Commission fuels report showed an increase in gasoline inventories and refinery production during the first week in October, which should help prices at the pump,” said Auto Club spokesman Jeffrey Spring. “However, yesterday three Washington state refineries reported unit shutdowns due to a natural gas pipeline rupture that affected their gasoline production. There was speculation that this could cause additional local price hikes if California’s refineries need to ship gasoline supplies to Washington to make up any shortfall, but now it appears at least some of the natural gas supply powering the Washington refineries will be restored today, allowing them to return to normal operation soon.”

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Oct. 11, averages are:

Area

Regular

1-week change

Record Price

Los Angeles – Long Beach

$3.88

 +2 cents

 $4.70 (10/9/12)

 

 

 

 

Orange County

$3.84

 +2 cents

 $4.69 (10/8/12)

 

 

 

 

San Diego

$3.84

 +3 cents

 $4.72 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –Lompoc

$3.86

 +2 cents

 $4.70 (6/21/08)

 

Riverside

$3.80

 +5 cents

$4.68 (10/8/12)

 

 

 

 

San Bernardino

$3.82

 +5 cents

 $4.68 (10/8/12)

 

 

 

 

Ventura

$3.84

 +2 cents

 $4.68 (10/7/12)

 

 

 

 

Bakersfield

$3.78

 +3 cents

 $4.64 (10/9/12)

Media Contacts

Marie Montgomery
(714) 885-2333
Montgomery.Marie@aaa-calif.com
Doug Shupe
LA-based media contact
512-659-1632
shupe.doug@aaa-calif.com