Local Gas Price Drops Slow Down

Southern California gas prices dropped by just a few cents over the past week and in some areas even stopped declining for a day or two, according to the Automobile Club of Southern California’s Weekend Gas Watch. The state average is $3.729 a gallon for regular today – 3.4 cents lower than last week and 94 cents lower than the $4.671 new record price set on Oct. 9.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.788 per gallon, which is 2.9 cents less than last week, 43 cents lower than last month, and 8 cents higher than last year. In San Diego, the price is $3.761, 2.9 cents below last week, 40 cents below last month, and 7 cents higher than last year. On the Central Coast, the average price is $3.853, down 3.1 cents from last week, 39 cents lower than a month ago, and 7 cents above last year. In the Inland Empire, the average per gallon price is $3.746, down 3.6 cents from last week, 40 cents lower than last month, and 4 cents more than last year.
“Wholesale prices for California gasoline rose by about 20 cents at the start of the month, but as of Wednesday the wholesale price dropped to its lowest level since the October spike,” said Auto Club spokesperson Jeffrey Spring. “If that decrease holds, there is plenty of additional room for gasoline prices to fall further in the coming weeks. We encourage drivers to continue shopping around aggressively to encourage competition.”
The Weekend Gas Watch monitors the average price of gasoline. Note that the price differences below are from one week ago (Thanksgiving), although the previous Weekend Gas Watch was published Nov. 21 due to the holiday. As of 9 a.m. on Nov. 29, averages are:
Record Price
Los Angeles – Long Beach
-2.9 cents
 $4.705 (10/9/12)
Orange County
-2.6 cents
 $4.690 (10/8/12)
San Diego
-2.9 cents
 $4.725 (10/8/12)
Santa Barbara – Santa Maria – Lompoc
-3.1 cents
 $4.709 (6/21/08)
Riverside – San  Bernardino
-3.6 cents
 $4.688 (10/8/12)
-3.5 cents
 $4.648 (10/9/12)
-1.4 cents
      $4.689 (10/7/2012)

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