Gas Prices Drop Below $3.10 in Most Areas

(LOS ANGELES, Aug. 26, 2010) – Rapidly falling crude oil prices are starting to be reflected at Southern California gas pumps, with gas price averages dropping below $3.10 in most areas this week, 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 $3.088 per gallon, which is 3.8 cents less than last week, 3.8 cents lower than last month, and 5.7 cents higher than last year. In San Diego, the price is $3.096, 4.1 cents lower than last week’s price, 3.7 cents below last month, and 6.4 cents higher than last year. On the Central Coast, the average price is $3.157, down 2.5 cents from last week, 4.2 cents lower than a month ago, and two cents above last year. In the Inland Empire, the average per gallon price is $3.071, which is 4.8 cents lower than last week, 3.5 cents lower than last month, and 5.1 cents more than last year.
 
“Crude oil prices have plummeted by about 14 percent in the last three weeks from their 2010 high point of nearly $83 a barrel on Aug. 4, but unfortunately, as is often the case, gas prices are dropping much more slowly,” said Auto Club spokesperson Jeffrey Spring.  “However, prices are almost identical to where they were this time last year.”
 
The Weekend Gas Watch monitors the average price of gasoline. As of 1 p.m. on Aug. 26, averages are:
 
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Area                     
 Regular  
One-week 
change 
 
Record Price
 
Los Angeles – Long Beach
$3.088
     -3.8 cents
 $4.626 (6/21/08)
 
 
 
 
Orange County
$3.088
     -4.0 cents
 $4.598 (6/19/08)
 
 
 
 
San Diego
$3.096
     -4.1 cents
 $4.630 (6/19/08)
 
 
 
 
Santa Barbara – Santa Maria – Lompoc
$3.157
     -2.5 cents
 $4.709 (6/21/08)
 
 
 
 
Riverside – San  Bernardino
$3.071
     -4.8 cents
 $4.614 (6/22/08)
 
 
 
 
Bakersfield
$3.190
      -3.7 cents
 $4.591 (6/24/08)
 
 
 
 
Ventura
$3.104
      -3.7 cents
 $4.625 (6/18/08)
 
(LOS ANGELES, Aug. 26, 2010) – Rapidly falling crude oil prices are started to be reflected at Southern California gas pumps, with gas price averages dropping below $3.10 in most areas this week, 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 $3.088 per gallon, which is 3.8 cents less than last week, 3.8 cents lower than last month, and 5.7 cents higher than last year. In San Diego, the price is $3.096, 4.1 cents lower than last week’s price, 3.7 cents below last month, and 6.4 cents higher than last year. On the Central Coast, the average price is $3.157, down 2.5 cents from last week, 4.2 cents lower than a month ago, and two cents above last year. In the Inland Empire, the average per gallon price is $3.071, which is 4.8 cents lower than last week, 3.5 cents lower than last month, and 5.1 cents more than last year.
 
“Crude oil prices have plummeted by about 14 percent in the last three weeks from their 2010 high point of nearly $83 a barrel on Aug. 4, but unfortunately, as is often the case, gas prices are dropping much more slowly,” said Auto Club spokesperson Jeffrey Spring.  “However, prices are almost identical to where they were this time last year.”
 
The Weekend Gas Watch monitors the average price of gasoline. As of 1 p.m. on Aug. 26, averages are:

Media Contacts

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