Local Drivers Get No Relief From Climbing Gas Prices

(LOS ANGELES – Feb. 10, 2011) – Gas prices continued marching upward in the last week, most likely in response to heavy investment in oil and gasoline futures as a result of unrest in Egypt, 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 $3.408 per gallon, which is 3.7 cents more than last week, seven cents higher than last month, and 43 cents higher than last year. In San Diego, the price is $3.415, 4.7 cents more than last week, six cents above last month, and 44 cents higher than last year. On the Central Coast, the average price is $3.454, up 3.5 cents from last week, seven cents higher than a month ago, and 43 cents above last year. In the Inland Empire, the average per gallon price is $3.391, which is 3.9 cents higher than last week, six cents higher than last month, and 42 cents more than last year.
 
“Investors anxious about the political upheaval in Egypt pushed oil and wholesale gasoline prices high at a time when they should be dropping because of healthy inventories and the upcoming end of the ‘winter gasoline’ season,” said Auto Club spokesperson Jeffrey Spring.
 
The Weekend Gas Watch monitors the average price of gasoline. As of 11 a.m. on Feb. 10, averages are:
 
Area                   
 Regular
One-week
change
 
Record Price
 
Los Angeles – Long Beach
$3.408
     +3.7 cents
 $4.626 (6/21/08)
 
 
 
 
Orange County
$3.406
     +3.3 cents
 $4.598 (6/19/08)
 
 
 
 
San Diego
$3.415
     +4.7 cents
 $4.630 (6/19/08)
 
 
 
 
Santa Barbara – Santa Maria – Lompoc
$3.454
     +3.5 cents
 $4.709 (6/21/08)
 
 
 
 
Riverside – San  Bernardino
$3.391
     +3.9 cents
 $4.614 (6/22/08)
 
 
 
 
Bakersfield
$3.448
      +3.6 cents
 $4.591 (6/24/08)
 
 
 
 
Ventura
$3.413
      +2.9 cents
 $4.625 (6/18/08)

Media Contacts

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