(LOS ANGELES, April 4, 2003) Gasoline prices continued inching lower last week for the second consecutive week, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California. Slight declines are due primarily to declining crude oil prices, lower gas prices at the wholesale level and steady supply of gasoline flowing to retailers.
Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $2.155 per gallon, which is eight-tenths of a cent lower than last week�s price, 18 cents higher than last month and 54 cents higher than last year. In San Diego the price is $2.197, which is one cent below last week�s level, 19 cents above last month and 54 cents higher than last year. Motorists in the central coast have an average price of $2.189, which is seven-tenths of a cent lower than last week�s price, 18 cents higher than last month and 52 cents higher than last year.
"There have been no supply glitches following the change over from winter grade to summer grade gasoline, so there appears to be plenty of fuel flowing to retailers, " said Carol Thorp, spokesperson for the Automobile Club of Southern California. "Demand for gasoline is unusually high for this time of year, but in spite of that, we expect to see pump prices continue their slow downward trend for at least a couple of weeks."
The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
Average prices as of 12:01 a.m., April 4:
|Area||Regular|| Change from |
|Los AngelesLong Beach||$2.155||-0.8 cents||$2.167 (3/22/03)|
|San Diego||$2.197||-1.0 cents||$2.211 (3/20/03)|
|Santa BarbaraSanta MariaLompoc||$2.189||-0.7 cents||$2.207 (3/22/03)|
|Las Vegas, NV||$2.055||-0.4 cents||$2.063 (3/25/03)|
|PhoenixMesa, AZ||$1.980||-1.0 cent||$2.003 (3/22/03)|