Auto Club: Motorists Reap Benefits of Market Flooded with Winter Blend Fuel

Weekly Fuel Prices Report

(LOS ANGELES, February 24, 2006) — Gas prices fell for the second straight week as refineries flooded the market with the last supplies of winter blend fuel, according to the Automobile Club of Southern California's Weekend Gas Watch. Refineries are prohibited from selling winter grade fuel after February 28.

The average price of self-serve regular gasoline in the Los Angeles–Long Beach area is $2.522, which is 4.8 cents lower than last week, eight higher than last month and 34 cents higher than last year. In San Diego, the price is $2.533 — 4.2 cents below last week's price, two cents above last month and 34 cents above last year. On the Central Coast, the average price is $2.663, down 4.3 cents from last week, seven cents higher than last month and 33 cents higher than last year. In the Inland Empire, the average price is $2.542, down 4.2 cents from last week, seven cents above last month and 35 cents higher than last year.

"Refiners are selling off all supplies of winter grade fuel in advance of next Tuesday's deadline. That has put extra supply on the market, sending prices lower," said Auto Club spokesperson Carol Thorp. "Motorists can expect to see prices stay near current levels for a couple of weeks. After that, with the extra winter grade supply used up, motorists should expect more upward pressure on retail gas prices."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Feb. 24:

Area Regular Change Record Price
Los Angeles–Long Beach $2.522 - 4.8 cents $2.999 (9/6/2005)
Orange County $2.481 - 5.2 cents $2.970 (9/6/2005)
San Diego $2.533 - 4.2 cents $3.060 (9/5/2005)
Santa Barbara–Santa Maria–Lompoc $2.663 - 4.3 cents $3.111 (9/7/2005)
Riverside–San Bernardino $2.542 - 4.2 cents $3.030 (9/9/2005)
Bakersfield $2.535 - 3.5 cents $3.167 (9/9/2005)
Las Vegas, NV $2.411 - 3.8 cents $2.968 (9/8/2005)

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