Prices Near $4 After Two Weeks of Hefty Increases

(LOS ANGELES – Sept. 8, 2011) –Local pump prices have raced up by more than 20 cents throughout Southern California during the past two weeks, 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 $3.965 per gallon, which is 9.8 cents higher than last week, five cents higher than last month, and 82 cents higher than last year. In San Diego, the price is $3.97, an increase of 9.7 cents from last week, six cents above last month, and 81 cents higher than last year. On the Central Coast, the average price is $3.988, up 8.7 cents from last week, five cents higher than a month ago, and 79 cents above last year. In the Inland Empire, the average per gallon price is $3.938, up 10.2 cents from last week, four cents higher than last month, and 80 cents more than last year.
 
“Oil industry analysts tell us that refineries are now selling more of their product overseas and this means that supplies are tighter domestically, driving up wholesale prices despite the continued lower demand in the U.S. and the lower price of oil,” said Auto Club spokesperson Jeffrey Spring. “If this trend doesn’t reverse soon, we could start seeing many area averages going above $4 in the next week, which would be a record for this time of year.”
 
The Weekend Gas Watch monitors the average price of gasoline. As of noon on Sept. 8, averages are:
 
Area                   
 Regular
One-week
change
 
Record Price
 
Los Angeles – Long Beach
$3.965
     +9.8 cents
 $4.626 (6/21/08)
 
 
 
 
Orange County
$3.942
     +8.7 cents
 $4.598 (6/19/08)
 
 
 
 
San Diego
$3.970
     +9.7 cents
 $4.630 (6/19/08)
 
 
 
 
Santa Barbara – Santa Maria – Lompoc
$3.988
     +8.7 cents
 $4.709 (6/21/08)
 
 
 
 
Riverside – San  Bernardino
$3.938
     +10.2 cents
 $4.614 (6/22/08)
 
 
 
 
Bakersfield
$3.968
      +11.1 cents
 $4.591 (6/24/08)
 
 
 
 
Ventura
$3.940
      +8.6 cents
 $4.625 (6/18/08)

Media Contacts

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