Auto Club: California Gas Prices Continue Downward Trickle

Weekly Fuel Prices Report

(LOS ANGELES, March 26, 2004) — For the third straight week gasoline prices continued a slow decline in California, while many parts of the country saw prices inch up, according to the Automobile Club of Southern California's Weekend Gas Watch. The national average for gasoline hit another record high at $1.742.

Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $2.147, which is 2.4 cents lower than last week. This price is 4.2 cents higher than last month and 2 cents lower than last year. In San Diego, the price is $2.157, which is 3.4 cents lower than last week, 2.5 cents above last month and 5 cents lower than last year. Motorists in the central coast pay an average price of $2.221, which is 2.4 cents lower than last week, 5.7 cents above last month and 3.6 cents higher than last year.

"Average pump prices are slowly edging down, but they are still much higher than we would expect to see when compared to wholesale prices that have been around $1.30 per gallon for more than a week," said Auto Club spokesperson Carol Thorp. "Analysts say there is still room for price reductions in California during the coming weeks. OPEC's decision on whether it cuts or increases production will be a key indicator whether we see higher or lower prices for summer."

The national average price of gasoline rose 1.9 cents per gallon last week to reach a new record high. Demand continues to be higher than last year at the same time and many other regions are now changing over from winter to summer grade gasoline.

The Weekend Gas Watch monitors the average price of gasoline at metropolitan destinations throughout the nation.

Average prices as of 12:01 a.m., March 26:

Local and Nearby Areas Regular Change from last week Record Price
Los Angeles–Long Beach $2.147 -2.4 cents $2.202 (3/4/2004)
San Diego $2.157 -3.4 cents $2.217 (3/6/2004)
Santa Barbara–Santa Maria–Lompoc $2.221 -2.4 cents $2.276 (3/6/2004)
National Average $1.742 +1.9 cents $1.742 ( 3/25/2004)
Other Areas Regular Change from last week Record Price
New York $1.915 +0.9 cents $1.968 (9/6/2003)
Washington, D.C. $1.746 +2.2 cents $1.797 (5/16/2001)
Boston $1.738 +1.3 cents $1.812 (9/3/2003)
Philadelphia $1.751 +1.1 cents $1.807 (9/3/2003)
Atlanta $1.615 +2.7 cents $1.615 (3/25/2004)
Miami $1.799 +2.2 cents $1.799 (3/25/2004)
Chicago $1.795 +3.8 cents $2.142 (6/19/2000)
Detroit $1.735 +4.5 cents $2.137 (6/20/2000)
Kansas City, MO $1.633 +1.3 cents $1.790 (6/21/2000)
St. Louis $1.680 +7.0 cents $1.767 (5/17/2001)
Denver $1.698 +0.7 cents $1.780 (6/5/2001)
Dallas $1.634 +1.9 cents $1.666 (5/12/2001)
Houston $1.620 +2.2 cents $1.639 (5/12/2001)
Salt Lake City $1.799 +1.9 cents $1.800 (3/23/2004)
Las Vegas, NV $2.097 -0.4 cents $2.105 (3/6/2004)
Phoenix, AZ $1.957 +1.6 cents $2.146 (8/26/2003)
Seattle $1.833 -0.5 cents $1.969 (9/4/2003)
San Francisco $2.227 -2.1 cents $2.276 (3/19/2003)
Honolulu $2.023 -0.1 cents $2.054 (10/2/2003)

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