Gas Prices Continue Heading in Right Direction: Downward

Gas prices dropped throughout Southern California for the second week in a row, which bodes well for Memorial Day travelers, according to the Automobile Club of Southern California’s Weekend Gas Watch.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.098 per gallon, which is 3.9 cents less than last week, six-tenths of one cent higher than last month, and 54.5 cents higher than last year. In San Diego, the price is $3.100, which is 4.1 cents less than last week’s price, one cent below last month, and 52.5 cents higher than last year. On the Central Coast, the average price is $3.171, 3.2 cents less than last week, six-tenths of one cent higher than a month ago, and 55 cents above last year. In the Inland Empire, the average per gallon price is $3.091, which is 3.6 cents less than last week, one-tenth of one cent more than last month, and 54 cents more than last year.
AAA today predicted that 32.1 million people nationwide will make Memorial Day weekend getaways, up 5.4 percent from last year. Gas prices in most parts of the U.S. are dropping along with those in Southern California.

“Conditions on the crude oil and wholesale markets are favorable at the moment for continued price drops at the pump,” said Auto Club spokesperson Jeffrey Spring. “So far this has been the mildest spring in the last 10 years in terms of price increases. Statewide, gas price averages have risen just 24 cents from their lowest point on Feb. 19, when the average was $2.92, to the highest point of the year so far on May 9, which was $3.16. Back in 2000, California gas prices rose by 44 cents between January and March.”
The Weekend Gas Watch monitors the average price of gasoline. As of 1 p.m. on May 20, averages are:
Record Price
Los Angeles – Long Beach
     -3.9 cents
 $4.626 (6/21/08)
Orange County
     -4.0 cents
 $4.598 (6/19/08)
San Diego
     -4.1 cents
 $4.630 (6/19/08)
Santa Barbara – Santa Maria – Lompoc
     -3.2 cents
 $4.709 (6/21/08)
Riverside – San  Bernardino
     -3.6 cents
 $4.614 (6/22/08)
      -2.7 cents
 $4.591 (6/24/08)
      -4.0 cents
 $4.625 (6/18/08)

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