Auto Club: Gas Prices Continue Upward March

Weekly Fuel Prices Report

(LOS ANGELES, Jan. 31, 2003) — Gasoline prices throughout the Southwest continued their upward trend last week, marking five straight weeks of fuel price increases, 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 $1.664 per gallon, which is 2.2 cents higher than last week's price, 14 cents higher than last month and 43 cents higher than last year. In San Diego the price is $1.714, which is 1.4 cents higher than last week's level, 12 cents higher than last month and 40 cents higher than last year. Motorists in the central coast have an average price of $1.715, which is 2.1 cents higher than last week's price, ten cents higher than last month and 38 cents higher than last year.

"Gasoline inventories have decreased over the past couple of weeks as demand has increased, pushing prices up at the pump," said Carol Thorp, Auto Club spokesperson. "Possible war with Iraq, coupled with the Venezuelan petroleum workers strike, are the most dominant factors affecting oil and gasoline prices. Each news development seems to send prices up or down, so it's almost impossible to say what prices will do in the immediate near term."

Average prices as of 12:01 a.m., January 31:

Area Regular Change from
last week
Record Price
Los Angeles–Long Beach $1.664 +2.2 cents $2.036 (5/25/01)
San Diego $1.714 +1.4 cents $2.025 (5/29/01)
Santa Barbara–Santa Maria–Lompoc $1.715 +2.1 cents $2.069 (5/16/01)
Las Vegas, NV $1.521 +4.6 cents $1.885 (3/27/00)
Phoenix–Mesa, AZ $1.377 +1.4 cents $1.720 (5/30/01)

###