Area Gas Prices Reach Plateau — Slow Downward Trend Expected

(LOS ANGELES, July 22, 2005) — Southern California gasoline prices recorded slight increases last week, but conditions point to a lower price trend for the rest of the summer, 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 $2.579, which is eight-tenths of a cent higher than last week, 20 cents higher than last month and 38 cents higher than last year. In San Diego, the price is $2.614 — eight-tenths of a cent above last week, 21 cents above last month and 41 cents above last year. On the Central Coast, the average price is $2.679, up 1.1 cents from last week, 19 cents higher than last month and 32 cents higher than last year. In the Inland Empire, the average price is $2.568, up 1.2 cents from last week, 20 cents above last month and 36 cents higher than last year.

"Even though prices on a week-to-week comparison are up, the high water mark was Monday. Since then, prices have been declining slowly," said Auto Club spokeswoman Carol Thorp. "Demand for gas this summer is lower because of high prices. We can expect slow and steady declines at retail pumps for the next few weeks."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., July 22:

Area Regular Change Record Price
Los Angeles–Long Beach $2.579 + 0.8 cent $2.625 (04/13/2005)
Orange County $2.558 + 0.8 cent $2.605 (04/21/2005)
San Diego $2.614 + 0.8 cent $2.626 (04/12/2005)
Santa Barbara–Santa Maria–Lompoc $2.679 + 1.1 cents $2.730 (04/29/2005)
Riverside–San Bernardino $2.568 + 1.2 cents $2.649 (04/13/2005)
Bakersfield $2.583 + 0.1 cent $2.682 (04/22/2005)
Las Vegas, NV $2.481 + 1.9 cents $2.534 (04/14/2005)

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