Auto Club: Gas Prices Follow Crude Prices Upward

Weekly Fuel Prices Report

(LOS ANGELES, Mar. 4, 2005) — Gasoline prices continued to follow crude oil prices in an upward arc last week, according to the Automobile Club of Southern California's Weekend Gas Watch. Crude oil futures nipped at $54 per barrel on Thursday and the Los Angeles–Long Beach area average price for regular rose another four cents.

The average price of self-serve regular gasoline in the Los Angeles–Long Beach area is $2.236 a gallon, which is 4 cents higher than last week, 13.7 cents higher than last month and 3.5 cents higher than last year. In San Diego, the price is $2.239, which is 3.9 cents higher than last week, 15.6 cents above last month and 2.5 cents above last year. On the Central Coast, the average price is $2.348, up 4.8 cents from last week, 13 cents higher than last month and 8.8 cents higher than last year. In the Inland Empire, the average price is $2.256, up 5.2 cents from last week, 16.4 cents above last month and 3.7 cents above last year.

"Surging crude oil prices are definitely causing upward pressure on gasoline prices," said Auto Club spokeswoman Carol Thorp. "If the price of crude remains high, consumers will feel an even bigger pinch on their pocketbooks in the weeks to come."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Mar. 4.

Area Regular Change Record Price
Los Angeles–Long Beach $2.236 +4.0 cents $2.446 (10/21/2004)
Orange County $2.222 +4.8 cents $2.441 (10/23/2004)
San Diego $2.239 +3.9 cents $2.464 (10/21/2004)
Santa Barbara–Santa Maria–Lompoc $2.348 +4.8 cents $2.570 (10/22/2004)
Riverside–San Bernardino $2.256 +5.2 cents $2.461 (10/21/2004)
Bakersfield $2.194 +5.2 cents $2.437 (10/23/2004)
Las Vegas, NV $2.152 +8.5 cents $2.290 (10/20/2004)

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