International Uncertainty Pushes Prices Upward
(LOS ANGELES, Jan. 3, 2003) - As Southern California greets 2003, gasoline prices have broken a six-week downward trend, according to the Weekend Gas Watch compiled by the Automobile Club of Southern California. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles Long Beach area is $1.561 per gallon, which is 3.5 cents higher than last week's price, 1.2 cents lower than last month and 56.7 cents higher than last year. In San Diego the price is $1.622, which is which is three cents higher than last week's level, 2.1 cents lower than last month and 42.3 cents higher than last year. Motorists in the central coast have an average price of $1.644, which is 4.5 cents higher than last week's price, seven tenths of a cent higher than last month and 52.2 cents higher than last year.
"Gasoline prices are rising to reflect higher crude oil prices that now hover around $30 a barrel," said Carol Thorp, Auto Club spokesperson. "Continuing economic strikes in Venezuela are finally having an impact on U.S. oil and gasoline production. While there is still plenty of supply to meet demand, producers are having to pay a higher price for crude oil, thus raising the pump price." Average prices as of 12:01 a.m., January 3:
|Area||Regular|| Change from |
|Los AngelesLong Beach||$1.561||+3.5cents||$2.036 (5/25/01)|
|San Diego||$1.622||+3.0 cents||$2.025 (5/29/01)|
|Santa BarbaraSanta MariaLompoc||$1.644||+4.5 cents||$2.069 (5/16/01)|
|Las Vegas, NV||$1.389||-0.3 cents||$1.885 (3/27/00)|
|PhoenixMesa, AZ||$1.321||+0.9 cents||$1.720 (5/30/01)|