Local Gas Price Averages Zoom to $3.50

(LOS ANGELES – Feb. 17, 2011) – In the worst week of gas price hikes so far in 2011, local price averages jumped by nearly a dime to about $3.50 a gallon in most areas, 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 $3.502 per gallon, which is 9.4 cents more than last week, 15 cents higher than last month, and 55 cents higher than last year. In San Diego, the price is $3.502, 8.7 cents more than last week, 15 cents above last month, and 56 cents higher than last year. On the Central Coast, the average price is $3.545, up 9.1 cents from last week, 16 cents higher than a month ago, and 53 cents above last year. In the Inland Empire, the average per gallon price is $3.476, which is 8.5 cents higher than last week, 14 cents higher than last month, and 53 cents more than last year.
“Even though news reports say that crude oil prices have dropped in the past month, those reports are referring to West Texas Intermediate crude, which is not the type of oil used by California refineries,” said Auto Club spokesperson Jeffrey Spring. “Imported crude oil is trading at $100 a barrel or more right now, and California refineries are using more imported oil as Alaska oil production has dropped. Concerns about worldwide inflation as well as unrest in the Middle East are combining to push foreign oil and local gas prices higher.”
The Weekend Gas Watch monitors the average price of gasoline. As of 11 a.m. on Feb. 17, averages are:
Record Price
Los Angeles – Long Beach
     +9.4 cents
 $4.626 (6/21/08)
Orange County
     +8.9 cents
 $4.598 (6/19/08)
San Diego
     +8.7 cents
 $4.630 (6/19/08)
Santa Barbara – Santa Maria – Lompoc
     +9.1 cents
 $4.709 (6/21/08)
Riverside – San  Bernardino
     +8.5 cents
 $4.614 (6/22/08)
      +5.5 cents
 $4.591 (6/24/08)
      +9.2 cents
 $4.625 (6/18/08)

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Marie Montgomery
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