Gas Prices Drop, But Double-Digit Declines Stop

Southern California gas prices are continuing to drop, but at a slower pace over the past week than the 10-cent-plus weekly declines seen during all of June, 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 $3.729 per gallon, which is 6.4 cents less than last week, 48 cents lower than last month, and 7 cents lower than last year. In San Diego, the price is $3.708, 6.6 cents below last week, 48 cents below last month, and 6 cents lower than last year. On the Central Coast, the average price is $3.810, down 4.4 cents from last week, 46 cents lower than a month ago, and 2 cents below last year. In the Inland Empire, the average per gallon price is $3.700, down 6.7 cents from last week, 49 cents lower than last month, and 7 cents less than last year.
Los Angeles area gas prices have not been this low since Jan. 10 of this year.
“The price of oil has jumped by nearly $10 a barrel in recent days on news of a deal to help keep European economies stable, and that has also increased wholesale gasoline prices locally,” said Auto Club spokesperson Jeffrey Spring. “We’ll see in the next few days how that affects retail prices, but for now, with an average of about $3.70 a gallon in most areas, drivers should easily be able to find gas stations in the $3.50 to $3.60 range in many cities.”
The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on July 5, averages are:
Record Price
Los Angeles – Long Beach
      -6.4 cents
 $4.626 (6/21/08)
Orange County
     -7.3 cents
 $4.598 (6/19/08)
San Diego
     -6.6 cents
 $4.630 (6/19/08)
Santa Barbara – Santa Maria – Lompoc
     -4.4 cents
 $4.709 (6/21/08)
Riverside – San  Bernardino
     -6.7 cents
 $4.614 (6/22/08)
      -5.9 cents
 $4.591 (6/24/08)
      -6.9 cents
 $4.625 (6/18/08)

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