Gas Prices Drop Before Thanksgiving Getaways

thanksgiving wooden crate turkey

Gas prices were spurred downward in the last week by large wholesale declines, meaning that holiday travelers will likely pay the lowest prices to fuel up since Thanksgiving of 2008, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $2.721 a gallon for regular today, 6.2 cents less than last Thursday.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.804 per gallon, which is 8.1 cents lower than last week, 3.5 cents lower than last month, and eight cents lower than last year. In San Diego, the average price is $2.804, which is 5.9 cents lower than last week, two cents lower than last month, and three cents less than this time last year. On the Central Coast, the average price is $2.798, 6.7 cents less than last week, 3.5 cents lower than a month ago, and five cents less than last year. In the Inland Empire, the average per-gallon price is $2.765, 5.1 cents less than last week, the same price as this time last month, and five cents less than last year.

“The price drops are good news for more than 3 million Southern Californians who will drive 50 miles or more to Thanksgiving holiday destinations and probably pay the lowest prices since 2008, when Thanksgiving gas prices averaged about $2.20 a gallon,” said Auto Club spokesman Jeffrey Spring.  “There was a fire Tuesday at the Torrance refinery formerly owned by Exxon Mobil, but so far it has not affected prices at the pump. Los Angeles wholesale gasoline prices have plunged by more than 50 cents since Nov. 1, so at this point there is room for further retail gas price decreases.”

 

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

 

Area

Regular

1-week change

Record Price

Los Angeles – Long Beach

$2.804

-8.1 cents

  $4.705 (10/9/12)

 

 

 

 

Orange County

$2.793

-7.7 cents

  $4.690 (10/8/12)

 

 

 

 

San Diego

$2.804

-5.9 cents

  $4.725 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –

Lompoc

$2.798

-6.7 cents

  $4.709 (6/21/08)

 

 

 

 

Riverside – San Bernardino

$2.765

-5.1 cents

  $4.688 (10/8/12)

 

 

 

 

Ventura

$2.800

-6.6 cents

  $4.689 (10/7/12)

 

 

 

 

Bakersfield

$2.731

-5.2 cents

 $4.648 (10/9/12)