Gas Price Plunge Erases October Spike

A few weeks of steep price declines have erased the October price spike that had set new records for Southland gas prices, according to the Automobile Club of Southern California’s Weekend Gas Watch. The state average is $4.075 a gallon for regular today – 23.7 cents lower than last week and nearly 60 cents lower than the $4.671 new record price set on Oct. 9.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $4.125 per gallon, which is 23.3 cents less than last week, 5.9 cents lower than last month, and 46 cents higher than last year. In San Diego, the price is $4.068, 24.7 cents below last week, 9.4 cents below last month, and 22 cents higher than last year. On the Central Coast, the average price is $4.186, down 19.9 cents from last week, 1.4 cents lower than a month ago, and 26 cents above last year. In the Inland Empire, the average per gallon price is $4.060, down 25.5 cents from last week, 8.6 cents lower than last month, and 22 cents more than last year.
 
“Even with these huge price declines, this is the first year ever that Southern California gas price averages have been above $4 a gallon on Nov. 1,” said Auto Club spokesperson Jeffrey Spring. “We’re encouraging drivers to continue to aggressively shop for the lowest possible gas prices. In most local areas, drivers should be able to find stations charging less than $4 a gallon.”
  
The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Nov. 1, averages are:
 
Area                   
Regular
One-week
change
 
Record Price
 
Los Angeles – Long Beach
$4.125
-23.3 cents
 $4.705 (10/9/12)
 
 
 
 
Orange County
$4.069
-25.8 cents
 $4.690 (10/8/12)
 
 
 
 
San Diego
$4.068
-24.7 cents
 $4.725 (10/8/12)
 
 
 
 
Santa Barbara – Santa Maria – Lompoc
$4.186
-19.9 cents
 $4.709 (6/21/08)
 
 
 
 
Riverside – San  Bernardino
$4.060
-25.5 cents
 $4.688 (10/8/12)
 
 
 
 
Bakersfield
$4.156
-22.8 cents
 $4.648 (10/9/12)
 
 
 
 
Ventura
$4.161
-20.6 cents
      $4.689 (10/7/2012)

Media Contacts

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