Auto Club: Gas Prices Continue Upward Path

Weekly Fuel Prices Report

(LOS ANGELES, March 11, 2005) — Gasoline prices continued rising throughout Southern California last week by at least 5 cents a gallon in most regions, according to the Automobile Club of Southern California's Weekend Gas Watch. The turnaround process at the state's refineries is complete, but volatility in crude oil markets might keep gas prices high.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.305, which is 6.9 cents higher than last week, 20.9 cents higher than last month and 10.9 cents higher than last year. In San Diego, the price is $2.299, which is 6 cents higher than last week, 23.8 cents above last month and 3 cents above last year. On the Central Coast, the average price is $2.404, up 5.6 cents from last week, 18.4 cents higher than last month and 14 cents higher than last year. In the Inland Empire, the average price is $2.329, up 7.3 cents from last week, 23.3 cents above last month and 10.7 cents above last year.

"California's refiners are producing summer grade fuel at expected levels and there is plenty of oil and gas to meet the state's needs. Normally, that would lead to lower gas prices," said Auto Club spokeswoman Carol Thorp. "But crude oil has been trading at record high prices due to what traders call "the fear premium." High oil prices could push our gas prices higher."

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

Area Regular Change Record Price
Los Angeles–Long Beach $2.305 + 6.9 cents $2.446 (10/21/2004)
Orange County $2.296 + 7.4 cents $2.441 (10/23/2004)
San Diego $2.299 + 6.0 cents $2.464 (10/21/2004)
Santa Barbara–Santa Maria–Lompoc $2.404 + 5.6 cents $2.570 (10/22/2004)
Riverside–San Bernardino $2.329 + 7.3 cents $2.461 (10/21/2004)
Bakersfield $2.229 + 10.5 cents $2.437 (10/23/2004)
Las Vegas, NV $2.226 + 7.4 cents $2.290 (10/20/2004)

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