Auto Club: Gas Prices U-turn and Move Higher

Weekly Fuel Prices Report

(LOS ANGELES, January 6, 2006) — After 13 weeks of steady declines, gasoline prices began 2006 by turning higher, according to the Automobile Club of Southern California's Weekend Gas Watch. Conditions indicate that rapid increases in pump prices are likely in the next couple of weeks.

The average price of self-serve regular gasoline in the Los Angeles–Long Beach area is $2.238, which is 1.2 cents higher than last week, 14 cents lower than last month and 23 cents higher than last year. In San Diego, the price is $2.315 — 3.1 cents above last week's price, eight cents below last month and 28 cents above last year. On the Central Coast, the average price is $2.410, up two cents from last week, ten cents lower than last month and 27 cents higher than last year. In the Inland Empire, the average price is $2.283, up three cents from last week, 12 cents below last month and 27 cents higher than last year.

"Wholesale gasoline prices have jumped about 15 percent in the past two weeks as speculators buy into a market that they expect to be much higher within a few weeks," Auto Club spokesperson Carol Thorp said. "Motorists can expect to see sharp increases in the next week."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Jan 6:

AreaRegularChangeRecord Price
Los Angeles–Long Beach$2.238+ 1.2 cents$2.999 (9/6/2005)
Orange County$2.213+ 2.3 cents$2.970 (9/6/2005)
San Diego$2.315+ 3.1 cents$3.060 (9/5/2005)
Santa Barbara–Santa Maria–Lompoc$2.283+ 2.0 cents$3.111 (9/7/2005)
Riverside–San Bernardino$2.253+ 3.0 cents$3.030 (9/9/2005)
Bakersfield$2.355+ 2.8 cents$3.167 (9/9/2005)
Las Vegas, NV$2.183+ 1.5 cents$2.968 (9/8/2005)

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