SoCal Gets Five Straight Weeks Of Gas Price Drops

Gas Station Clouds Yuya Sekiguchi
Photo by Yuya Sekiguchi http://www.flickr.com/photos/yuyasekiguchi http://creativecommons.org/licenses/by/4.0/ legalcode

Southern California gas prices have dropped for the fifth straight week and are now about 30 cents away from their lowest point this year reached in February, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $2.642 a gallon for regular today, 4.7 cents less than last Thursday.
 
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.661 per gallon, which is six cents lower than last week, 28 cents lower than last month, and $1.13 lower than last year. In San Diego, the average price is $2.694, which is 4.6 cents lower than last week, 23 cents lower than last month, and $1.04 less than this time last year. On the Central Coast, the average price is $2.73, six cents less than last week, 24 cents lower than a month ago, and $1.03 less than last year. In the Inland Empire, the average per-gallon price is $2.621, six cents less than last week, 27 cents less than last month, and $1.11 less than last year.
 
“There still appears to be some room for further price decreases since Los Angeles wholesale fuel prices have dropped by about 55 cents from their highest point in late June, but retail prices have dropped by only about 30 cents so far,” said Auto Club spokesman Jeffrey Spring.  “If supply levels remain healthy, gas prices should continue their downward trend.”

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Aug. 11, averages are:

 

Los Angeles – Long Beach

$2.661

-6.0 cents

  $4.705 (10/9/12)

 

 

 

 

Orange County

$2.632

-7.0 cents

  $4.690 (10/8/12)

 

 

 

 

San Diego

$2.694

-4.6 cents

  $4.725 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria –

Lompoc

$2.730

-6.0 cents

  $4.709 (6/21/08)

 

 

 

 

Riverside – San Bernardino

$2.621

-6.0 cents

  $4.688 (10/8/12)

 

 

 

 

Ventura

$2.656

-5.5 cents

  $4.689 (10/7/12)

 

 

 

 

Bakersfield

$2.673

-5.3 cents

 $4.648 (10/9/12)