Gas Prices Drop Slightly Over Holiday Week

Gas Station Clouds Yuya Sekiguchi
Photo by Yuya Sekiguchi http://www.flickr.com/photos/yuyasekiguchi http://creativecommons.org/licenses/by/4.0/ legalcode

Gas prices continued dropping for a fourth straight week even as the highest number of Southern California travelers since 2007 took Thanksgiving trips, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $2.654 a gallon for regular today, 2.2 cents less than last Thursday.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.71 per gallon, which is 2.7 cents lower than last week, 18 cents lower than last month, and seven cents lower than last year. In San Diego, the average price is $2.714, which is 2.6 cents lower than last week, 14 cents lower than last month, and three cents less than this time last year. On the Central Coast, the average price is $2.751, 2.1 cents less than last week, 12 cents lower than a month ago, and three-tenths of one cent more than last year. In the Inland Empire, the average per-gallon price is $2.683, three cents less than last week, 11.5 cents less than this time last month, and three cents less than last year.

“The big news for gas prices this week was OPEC announcing a cutback in oil production, which may have been why Los Angeles wholesale and rack prices rose on Wednesday,” said Auto Club spokesman Jeffrey Spring.  “However, wholesale prices remain below where they were a month ago and there appears to be room for prices at the pump to drop a little more.”

 

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Dec. 1, averages are:

 

Area

Regular

1-week change

Record Price

Los Angeles – Long Beach

$2.710

-2.7 cents

  $4.705 (10/9/12)

 

 

 

 

Orange County

$2.690

-3.0 cents

  $4.690 (10/8/12)

 

 

 

 

San Diego

$2.714

-2.6 cents

  $4.725 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –

Lompoc

$2.751

-2.1 cents

  $4.709 (6/21/08)

 

 

 

 

Riverside – San Bernardino

$2.683

-3.0 cents

  $4.688 (10/8/12)

 

 

 

 

Ventura

$2.717

-3.0 cents

  $4.689 (10/7/12)

 

 

 

 

Bakersfield

$2.681

-1.2 cents

 $4.648 (10/9/12)