Gas Prices Post Second Week of Double-Digit Declines

Southern California gas price averages raced down towards $4 a gallon in the past week, providing a second consecutive week of hefty price decreases that give drivers prices just about a dime higher than a year ago, 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 $4.057 per gallon, which is 12.6 cents less than last week, 33 cents lower than last month, and 10 cents higher than last year. In San Diego, the price is $4.023, 13.5 cents below last week, 33 cents below last month, and 10 cents higher than last year. On the Central Coast, the average price is $4.108, down 14.6 cents from last week, 29 cents lower than a month ago, and 12 cents above last year. In the Inland Empire, the average per gallon price is $4.02, down 14.1 cents from last week, 32 cents lower than last month, and 10 cents more than last year.
“This is the first time since the financial meltdown of 2008 that Southern California has experienced two consecutive weeks of double-digit gas price declines in most areas,” said Auto Club spokesperson Jeffrey Spring. “Prices have returned to levels not seen since mid-February because of the rapid drop in wholesale prices starting late last month. Drivers should easily be able to find gas stations now charging less than $3.90 a gallon, and a few that are even below $3.80.”
The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on June 14, averages are:
Record Price
Los Angeles – Long Beach
      -12.6 cents
 $4.626 (6/21/08)
Orange County
     -13.2 cents
 $4.598 (6/19/08)
San Diego
     -13.5 cents
 $4.630 (6/19/08)
Santa Barbara – Santa Maria – Lompoc
     -14.6 cents
 $4.709 (6/21/08)
Riverside – San  Bernardino
     -14.1 cents
 $4.614 (6/22/08)
      -11.3 cents
 $4.591 (6/24/08)
      -11.8 cents
 $4.625 (6/18/08)

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