Gas Prices Continue Slow Slide

Filling up Insight by Celeste Lindell

Despite a volatile oil and gasoline market that has seen roller-coaster price moves on the wholesale level in recent days, robust gasoline production locally continues to nudge Southern California pump prices lower, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail statewide average is $3.62 a gallon for regular unleaded, which is down two cents from last week.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.64 per gallon, which is a two cents lower than last week, four cents lower than last month, and 72 cents higher than last year. In San Diego, the average price is $3.62, which is down one cent from last Thursday, seven cents less than last month, and 73 cents higher than this time last year. On the Central Coast, the average price is $3.72, which is a penny lower than last week, four cents lower than last month, and 77 cents higher than last year. In Riverside, the average per-gallon price is $3.55, which is two cents lower than last week, eight cents lower than last month, and 71 cents more than at this time last year.

“We saw a sharp drawdown in supplies two weeks ago followed by an increase last week, which added to the volatility in oil prices,” said Auto Club spokesman Jeffrey Spring. “Since refinery production remains near capacity, the overall result is slightly lower gas prices this week. We continue to encourage drivers to aggressively shop around for the lowest gas prices using an app such as the free AAA Mobile app, because drivers still tend to overpay for gasoline when prices are coming down.”

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on July 26, averages are:

Area

Regular

1-week change

Record Price

Los Angeles – Long Beach

$3.64

 -2 cents

 $4.70 (10/9/12)

 

 

 

 

Orange County

$3.58

 -1 cent

 $4.69 (10/8/12)

 

 

 

 

San Diego

$3.62

 -1 cent

 $4.72 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –Lompoc

$3.72

-1 cent

$4.70 (6/21/08)

 

Riverside

$3.55

 -2 cents

$4.68 (10/8/12)

 

 

 

 

San Bernardino

$3.58

 -1 cent

 $4.68 (10/8/12)

 

 

 

 

Media Contacts

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