Gas Prices Extend Drops as Demand and Oil Prices Continue to Fall

Gas Prices
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Southern Californians saw a second week of double digit drops in gasoline prices as oil prices and demand for fuel have plummeted below where they were at this time last year, according to the Automobile Club of Southern California's Weekend Gas Watch. Today’s retail statewide average is $3.12 a gallon for regular unleaded, which is 16 cents less than last week.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.19 per gallon, which is 17 cents lower than last week, 38 cents lower than a month ago, and 39 cents lower than last year. In San Diego, the average price is $3.16, which is 17 cents lower than last Thursday, 38 cents less than last month, and 35 cents lower than last year. On the Central Coast, the average price is $3.30, which is 13 cents lower than last week, 27 cents lower than last month, and 26 cents higher than last year. In Riverside, the average per-gallon price is $3.08, which is 18 cents lower than last week, 40 cents lower than last month, and 41 cents lower than last year. In San Bernardino, the $3.14 average price is 16 cents less than last week, 37 cents lower than last month, and 36 cents lower than a year ago today.

“With many people staying or working at home this past week, gasoline demand has continued to weaken,” said Auto Club spokesman Jeffrey Spring. “Combined with the ongoing oil price war between Saudi Arabia and Russia, we could see the average price in areas close in on $3 per gallon, with many stations selling regular gasoline for much less than that.” 

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

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