Surging Summer Demand Sends Gas Prices Higher

Weekly Fuel Prices Report

San Diego Sets New Record High Price at $2.693

(LOS ANGELES, August 5, 2005) — After a two week rest, gasoline prices have resumed their upward march fueled by surging demand by summertime vacation drivers, 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 $2.604, which is 2.5 cents higher than last week, 11 cents higher than last month and 46 cents higher than last year. In San Diego, the price is $2.639 — a new record high and 2.9 cents above last week's price. San Diego's record is 11 cents above last month and 48 cents above last year. On the Central Coast, the average price is $2.696, up 1.8 cents from last week, 11 cents higher than last month and 39 cents higher than last year. In the Inland Empire, the average price is $2.585, up three cents from last week, 11 cents above last month and 44 cents higher than last year.

"After showing weakness in June and part of July, demand for gasoline has shot up to a level that is three percent higher than last summer," said Auto Club spokeswoman Carol Thorp. "It's likely that there will be more increases at the pump, so record high prices set in the spring might be eclipsed within the next week."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., August 5:

AreaRegularChangeRecord Price
Los Angeles–Long Beach$2.604+ 2.5 cents$2.625 (04/13/2005)
Orange County$2.582+ 2.4 cents$2.605 (04/21/2005)
San Diego$2.639+ 2.9 cents$2.639 (08/04/2005)
Santa Barbara–Santa Maria–Lompoc$2.696+ 1.8 cents$2.730 (04/29/2005)
Riverside–San Bernardino$2.585+ 3.0 cents$2.649 (04/13/2005)
Bakersfield$2.584+ 1.4 cents$2.682 (04/22/2005)
Las Vegas, NV$2.491+ 2.7 cents$2.534 (04/14/2005)

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