Auto Club: Expect Major SoCal Price Decreases

Pumping gas in Los Angeles archives
Photo copyright Automobile Club of Southern California Archives

Motorists could see big dips at the pump in coming days because Los Angeles wholesale gasoline prices on Wednesday plunged to $1.12 - the lowest level since December of 2008, when local drivers were paying retail prices averaging $1.75 a gallon, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $2.816 a gallon for regular today, 6.5 cents less than last Thursday.

 

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.992 per gallon, which is 8.2 cents lower than last week, 29 cents more than last month, and 40 cents higher than last year. In San Diego, the average price is $2.969, which is 9.2 cents less than last week, 25 cents higher than last month, and 40 cents more than this time last year. On the Central Coast, the average price is $2.941, 8.5 cents less than last week, 25 cents higher than a month ago, and 26 cents more than last year. In the Inland Empire, the average per-gallon price is $2.968, 6.7 cents lower than last week, 29 cents more than last month, and 41 cents more than last year.

 

“It’s probably too much to hope that we’ll see $1.75 gas prices in Southern California because of this plunge, since current prices are still near $3 a gallon and costs have increased since 2008 from other sources than crude oil such as additives, the California carbon credit and labor,” said Auto Club spokesman Jeffrey Spring. “One day of record low wholesale prices is not a trend, but slower demand and the continuing low price of oil should definitely allow local gas stations to drop prices until we enter the spring maintenance season.”

 

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Jan. 14, averages are: 

Area

Regular

One-week

change

Record Price

Los Angeles – Long Beach

$2.992

-8.2 cents

  $4.705 (10/9/12)

 

 

 

 

Orange County

$2.983

-8.2 cents

  $4.690 (10/8/12)

 

 

 

 

San Diego

$2.969

-9.2 cents

  $4.725 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –

Lompoc

$2.941

-8.5 cents

  $4.709 (6/21/08)

 

 

 

 

Riverside – San Bernardino

$2.968

-6.7 cents

  $4.688 (10/8/12)

 

 

 

 

Ventura

$2.994

-7.7 cents

  $4.689 (10/7/12)

 

 

 

 

Bakersfield

$2.748

-6.9 cents

  $4.648 (10/9/12)

Media Contacts

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