Gas Price Average Back Above $3 In LA, But Could Head Down

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

A slow gasoline price climb continued for the fourth straight week in Southern California, bringing average prices up by about a dime in the last month so far and back above $3 a gallon in Los Angeles, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail statewide average is $2.98 a gallon for regular unleaded, two cents more than a week ago.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.01 per gallon, which is two cents more than last week, 10 cents above last month, and 37 cents higher than last year. In San Diego, the average price is $2.98, which is one cent above last week, a dime more than last month, and 31 cents more than this time last year. On the Central Coast, the average price is $3.03, which is unchanged from last week, nine cents higher than last month, and 33 cents higher than last year. In the Inland Empire, the average per-gallon price is $2.93, which is up a cent from last week, eight cents more than last month, and 33 cents more than at this time last year.

“Although prices rose again in the last week, conditions appear to favor a downturn or at least a plateau for Southern California gas prices provided there are no supply problems in the near future,” said Auto Club spokesman Jeffrey Spring.  “Oil prices have dropped in the last two weeks, as have Los Angeles wholesale and rack gasoline prices. In the last couple of days, average prices in local cities have moved very little, indicating the increase could soon be at an end.”

 

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Aug. 17, averages are:

 

Area

Regular

1-week change

Record Price

Los Angeles – Long Beach

$3.01

 +2 cents

 $4.70 (10/9/12)

 

 

 

 

Orange County

$2.99

 +3 cents

 $4.69 (10/8/12)

 

 

 

 

San Diego

$2.98

 +1 cent

 $4.72 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –Lompoc

$3.03

 No change

 $4.70 (6/21/08)

 

Riverside/San Bernardino

$2.93

 +1 cent

 $4.68 (10/8/12)

 

 

 

 

Ventura

$2.97

 +3 cents

 $4.68 (10/7/12)

 

 

 

 

Bakersfield

$2.95

 +1 cent

 $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