Gas Prices Still Coming Down for Ninth Straight Week

(LOS ANGELES – July 7, 2011) –Southern California gas prices continued dropping for a ninth straight week, 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 $3.785 per gallon, which is 3.2 cents lower than last week, 22 cents lower than last month, and 66 cents higher than last year. In San Diego, the price is $3.755, a decrease of 3.1 cents from last week, 21 cents below last month, and 63 cents higher than last year. On the Central Coast, the average price is $3.828, down 2.9 cents from last week, 22 cents lower than a month ago, and 65 cents above last year. In the Inland Empire, the average per gallon price is $3.754, which is 3.7 cents lower than last week, 20 cents lower than last month, and 64 cents more than last year.
 
“Positive developments in Greece and a weaker U.S. dollar drove crude oil prices higher this past week, which may be why this week’s price decreases are not as steep as we’ve seen in prior weeks,” said Auto Club spokesperson Jeffrey Spring.  “Oil futures are traded in U.S. dollars, which means that when the dollar weakens, investors, including those holding foreign currencies, get comparatively more oil for their money.  This makes crude oil a more attractive investment, which pressures prices upward. Today the price is close to $100 a barrel.” 
 
The Weekend Gas Watch monitors the average price of gasoline. As of noon on July 7, averages are:
 
Area                   
 Regular
One-week
change
 
Record Price
 
Los Angeles – Long Beach
$3.785
     -3.2 cents
 $4.626 (6/21/08)
 
 
 
 
Orange County
$3.755
     -3.7 cents
 $4.598 (6/19/08)
 
 
 
 
San Diego
$3.755
     -3.1 cents
 $4.630 (6/19/08)
 
 
 
 
Santa Barbara – Santa Maria – Lompoc
$3.828
     -2.9 cents
 $4.709 (6/21/08)
 
 
 
 
Riverside – San  Bernardino
$3.754
     -3.7 cents
 $4.614 (6/22/08)
 
 
 
 
Bakersfield
$3.827
      -3.9 cents
 $4.591 (6/24/08)
 
 
 
 
Ventura
$3.78
      -3.0 cents
 $4.625 (6/18/08)

Media Contacts

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