SoCal Pump Prices Now Surging Again

Bad news travels fast by Damian Gadal
Photo copyright Damian Gadal https://www.flickr.com/photos/23024164@N06/ http://creativecommons.org/licenses/by/4.0/  

Yet another 75-cent spike on the Los Angeles wholesale gasoline market drove up gas station prices six cents in many areas from Wednesday to Thursday, with more increases likely on the way, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $3.59 a gallon for regular today, 7.5 cents less than last week.

 

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.858 per gallon, which is 5.8 cents less than last week, 19 cents less than last month, and 3 cents lower than last year. In San Diego, the average price is $3.777 which is 8.6 cents less than last week, 26 cents lower than last month, and 9 cents less than this time last year. On the Central Coast, the average price is $3.77, 11.8 cents less than last week, 15 cents lower than a month ago, and 20 cents less than last year. In the Inland Empire, the average per-gallon price is $3.761, 10.6 cents lower than last week, 16 cents less than last month, and 10 cents less than last year.

 

“We are told by industry analysts to expect a lot of volatility in local gas prices through the fall as Southern California refineries continue to rely on imports to supply enough gasoline to the area,” said Auto Club spokesman Jeffrey Spring. “It appears the latest spike was caused by a similar situation to the spike in July, when at least two foreign tankers headed for Southern California redirected to other foreign ports.”

 

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Aug.13, averages are: 

 

Area

  Regular  

One-week

change

Record Price

Los Angeles – Long Beach

$3.858

   -5.8 cents  

  $4.705 (10/9/12)

 

 

 

 

Orange County

$3.823

-6.3 cents

  $4.690 (10/8/12)

 

 

 

 

San Diego

$3.777

   -8.6 cents

  $4.725 (10/8/12)

 

 

 

 

Santa Barbara – Santa Maria – Lompoc

$3.770

   -11.8 cents

  $4.709 (6/21/08)

 

 

 

 

Riverside – San Bernardino

$3.761

  -10.6 cents

  $4.688 (10/8/12)

 

 

 

 

Ventura

$3.809

 -7.9 cents

  $4.689 (10/7/12)