Auto Club: Gas Price Rollercoaster Heads Up Again

(LOS ANGELES, June 24, 2005) — Gas prices reversed course over the past week and are heading back up, reflecting a sharp jump in crude oil prices, according to the Automobile Club of Southern California's Weekend Gas Watch.

The average price of self-serve regular gasoline in the Los Angeles–Long Beach area is $2.401, which is four cents higher than last week, 7.1 cents lower than last month and 10.8 cents higher than last year. In San Diego, the price is $2.423, - 4.7 cents above last week, 4.6 cents below last month and 15.6 cents above last year. On the Central Coast, the average price is $2.513, up three cents from last week, 7.3 cents lower than last month and 7.3 cents higher than last year. In the Inland Empire, the average price is $2.388, up 3.9 cents from last week, 7.5 cents below last month and the 8.6 cents higher than last year.

"With crude oil trading at new record-high prices near $60 a barrel, motorists can expect to continue paying more at the pump in coming weeks," said Auto Club spokesperson Jeffrey Spring. "The previous nine weeks of declines gave drivers about a 30-cent drop from record high prices we saw in April, before prices started heading up again this past week."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., June 24:

Area Regular Change Record Price
Los Angeles–Long Beach $2.401 + 4.0 cents $2.625 (04/13/2005)
Orange County $2.390 + 3.9 cents $2.605 (04/21/2005)
San Diego $2.423 + 4.7 cents $2.626 (04/12/2005)
Santa Barbara–Santa Maria–Lompoc $2.513 + 3.0 cents $2.730 (04/29/2005)
Riverside–San Bernardino $2.388 + 3.9 cents $2.649 (04/13/2005)
Bakersfield $2.399 + 3.7 cents $2.682 (04/22/2005)
Las Vegas, NV $2.306 + 2.4 cents $2.534 (04/14/2005)

###