(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 AngelesLong 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:
|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)|