Skyrocketing Gas Prices Accompany Holiday Fireworks

(LOS ANGELES, July 1, 2005) — Heading into the holiday weekend, price increases picked up the pace at gas stations throughout Southern California, marking the second straight week of increased 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 $2.465, which is 6.4 cents higher than last week, 4.5 cents higher than last month and 19.9 cents higher than last year. In San Diego, the price is $2.508 — 8.5 cents above last week, 8.7 cents above last month and 25.2 cents above last year. On the Central Coast, the average price is $2.555, up 4.2 cents from last week, 1.7 cents lower than last month and 14.6 cents higher than last year. In the Inland Empire, the average price is $2.454, up 6.6 cents from last week, 4.2 cents above last month and 16.7 cents higher than last year.

"Crude oil futures prices have settled down slightly, but still are trading close to $60 a barrel because of concerns about international events such as the Iranian election," said Auto Club spokeswoman Carol Thorp. "Until crude oil prices settle down for a sustained period, we can expect gas prices to continue rising."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., July 1:

AreaRegularChangeRecord Price
Los Angeles–Long Beach$2.465+ 6.4 cents$2.625 (04/13/2005)
Orange County$2.452+ 6.2 cents$2.605 (04/21/2005)
San Diego$2.508+ 8.5 cents$2.626 (04/12/2005)
Santa Barbara–Santa Maria–Lompoc$2.555+ 4.2 cents$2.730 (04/29/2005)
Riverside–San Bernardino$2.454+ 6.6 cents$2.649 (04/13/2005)
Bakersfield$2.483+ 8.4 cents$2.682 (04/22/2005)
Las Vegas, NV$2.370+ 6.4 cents$2.534 (04/14/2005)

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