Gas Prices Higher On Thin National Supply

Weekly Fuel Prices Report

(LOS ANGELES, Oct. 7, 2005) — Gasoline prices in Southern California increased this week in response to thin national supplies as the Gulf Coast continues to suffer in the aftermath of Hurricanes Katrina and Rita, 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 $2.977, which is 5.6 cents higher than last week, two cents lower than last month and 77 cents higher than last year. In San Diego, the price is $3.013 — 4.6 cents above last week's price, three cents below last month and 77 cents above last year. On the Central Coast, the average price is $3.042, up 2.5 cents from last week, seven cents lower than last month and 68 cents higher than last year. In the Inland Empire, the average price is $2.997, up 4.9 cents from last week, three cents below last month and 77 cents higher than last year.

"Even though California produces nearly all of its own fuel, gasoline markets nationwide react to each other when dramatic swings in price occur," Auto Club spokeswoman Carol Thorp said. "California has been protected against dramatic super spikes some regions are experiencing, but prices will continue to swing up and down in response to an unstable energy market."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Oct. 7:

Area Regular Change Record Price
Los Angeles–Long Beach $2.977 + 5.6 cents $2.999 (9/6/2005)
Orange County $2.935 + 6.0 cents $2.970 (9/6/2005)
San Diego $3.013 + 4.6 cents $3.060 (9/5/2005)
Santa Barbara–Santa Maria–Lompoc $3.042 + 2.5 cents $3.111 (9/7/2005)
Riverside–San Bernardino $2.997 + 4.9 cents $3.030 (9/9/2005)
Bakersfield $3.053 + 1.3 cents $3.167 (9/9/2005)
Las Vegas, NV $2.872 + 1.3 cents $2.968 (9/8/2005)

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