Auto Club: Gas Prices Level Off — How Long Can it Last?

Weekly Fuel Prices Report

(LOS ANGELES, Feb. 11, 2005) — Rising gasoline prices took a breather last week as Los Angeles and Orange County pump prices declined slightly and other areas experienced slight increases, according to the Automobile Club of Southern California's Weekend Gas Watch. Despite price stability, signs indicate the gasoline market could be ready to turn upward within a couple of weeks.

The average price of self-serve regular gasoline in the Los Angeles–Long Beach area is $2.096 a gallon, which is three-tenths of a cent lower than last week, 12 cents higher than last month and 21 cents higher than last year. In San Diego, the price is $2.099, which is 1.6 cents higher than last week, eight cents above last month and 21 cents above last year. On the Central Coast, the average price is $2.220, which is up four cents from last week, ten cents higher than last month and 28 cents higher than last year. In the Inland Empire, the average price is $2.096, which is up four-tenths of a cent from last week, eleven cents above last month and 21 cents above last year.

"California has benefited from global stability in the price of crude oil and gasoline futures recently, but some local problems may counterbalance those factors and send our prices higher," said Auto Club spokeswoman Carol Thorp. "Chevron's refinery in Richmond suffered equipment breakdowns in the past week, which could curtail much of its production into March."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Feb. 11.

Area Regular Change Record Price
Los Angeles–Long Beach $2.096 - 0.3 cent $2.446 (10/21/2004)
Orange County $2.073 - 0.3 cent $2.441 (10/23/2004)
San Diego $2.099 + 1.6 cents $2.464 (10/21/2004)
Santa Barbara–Santa Maria–Lompoc $2.220 + 4.0 cents $2.570 (10/22/2004)
Riverside–San Bernardino $2.096 + 0.4 cent $2.461 (10/21/2004)
Bakersfield $2.097 + 2.0 cents $2.437 (10/23/2004)
Las Vegas, NV $2.023 + 3.6 cents $2.290 (10/20/2004)

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