Pump Prices Fall As Motorists Cut Back

Weekly Fuel Prices Report

(LOS ANGELES, Oct. 14, 2005) — The state's retail gasoline market continues to demonstrate see-saw volatility in the aftermath of Hurricanes Katrina and Rita, with prices declining through the region this week after rising the prior week. The current price drop is attributed to a decline in demand caused by high prices since the hurricanes, 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 $2.957, which is two cents lower than last week, three cents lower than last month and 63 cents higher than last year. In San Diego, the price is $2.993 — two cents below last week's price, four cents below last month and 62 cents above last year. On the Central Coast, the average price is $3.025, down 1.7 cents from last week, seven cents lower than last month and 54 cents higher than last year. In the Inland Empire, the average price is $2.979, down 1.8 cents from last week, two cents below last month and 62 cents higher than last year.

"Twice this year, the average price of gasoline rose to near $3 per gallon and each time demand fell off," Auto Club spokeswoman Carol Thorp said. "It appears, for the time being, that $3 per gallon is the threshold at which Californians will change their behavior and cut back driving."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Oct. 14:

Area Regular Change Record Price
Los Angeles–Long Beach $2.957 - 2.0 cents $2.999 (9/6/2005)
Orange County $2.898 - 3.7 cents $2.970 (9/6/2005)
San Diego $2.993 - 2.0 cents $3.060 (9/5/2005)
Santa Barbara–Santa Maria–Lompoc $3.025 - 1.7 cents $3.111 (9/7/2005)
Riverside–San Bernardino $2.979 - 1.8 cents $3.030 (9/9/2005)
Bakersfield $3.011 - 4.2 cents $3.167 (9/9/2005)
Las Vegas, NV $2.838 - 3.4 cents $2.968 (9/8/2005)

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