Gas Prices Move Up Slightly In Many Areas

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One straight month of Southern California gas price drops ended this week in many Southern California cities, but there are signs the increase won’t last, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $2.667 a gallon for regular today, 1.3 cents more than last Thursday.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.729 per gallon, which is 1.9 cents higher than last week, 16 cents lower than last month, and six cents lower than last year. In San Diego, the average price is $2.731, which is 1.7 cents higher than last week, 14 cents lower than last month, and two cents less than this time last year. On the Central Coast, the average price is $2.742, nine-tenths of a cent less than last week, 13 cents lower than a month ago, and two cents lower than last year. In the Inland Empire, the average per-gallon price is $2.685, two-tenths of one cent more than last week, 15 cents less than this time last month, and three cents less than last year.

“Los Angeles wholesale gasoline prices jumped last week on news of OPEC production cuts in January, but have since then settled back down to where they were before the announcement, leaving room for additional pump price drops if they stay at that level,” said Auto Club spokesman Jeffrey Spring.  “Reportedly, inventories of California gasoline are high at the moment, which should keep downward pressure on retail prices.”

 

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Dec. 8, averages are:

 

Area

Regular

1-week change

Record Price

Los Angeles – Long Beach

$2.729

+1.9 cents

  $4.705 (10/9/12)

 

 

 

 

Orange County

$2.719

+2.9 cents

  $4.690 (10/8/12)

 

 

 

 

San Diego

$2.731

+1.7 cents

  $4.725 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –

Lompoc

$2.742

-0.9 cent

  $4.709 (6/21/08)

 

 

 

 

Riverside – San Bernardino

$2.685

 +0.2 cent

  $4.688 (10/8/12)

 

 

 

 

Ventura

$2.718

+0.1 cent

  $4.689 (10/7/12)

 

 

 

 

Bakersfield

$2.656

-2.5 cents

 $4.648 (10/9/12)

Media Contacts

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