Auto Club: Prices Rise Above $2.90

Weekly Fuel Prices Report

Central Coast Average Tops $3 per Gallon

(LOS ANGELES, April 14, 2006) — Prices across the state continued their upward march this week with all factors indicating a $3 per gallon average in the Southland could be reached within a couple of weeks, according to the Automobile Club of Southern California's Weekend Gas Watch. Gasoline prices in a handful of areas, including Santa Barbara, have already topped $3 per gallon.

The average price of self-serve regular gasoline in the Los Angeles–Long Beach area is $2.914, which is 7.2 cents higher than last week, 31 cents higher than last month and 29 cents higher than last year. In San Diego, the price is $2.918 — 8.7 cents above last week's price, 31 cents above last month and 30 cents above last year. On the Central Coast, the average price is $3.006, up 8.2 cents from last week, 30 cents above than last month and 28 cents higher than last year. In the Inland Empire, the average price is $2.938, up 5.3 cents from last week, 32 cents above last month and 29 cents higher than last year.

"Wholesale prices have been rising and retail prices won't catch up for two-to-three weeks," said Auto Club spokesperson Carol Thorp. "Nationally, production is down and demand is up compared to last year. In addition, many regions of the country are having trouble getting sufficient supplies of ethanol, which is used in new formulas for gas. Uncertainty about supply has lifted gasoline to near record prices on the spot market and that filters down to the neighborhood gas pump."

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

Area Regular Change Record Price
Los Angeles–Long Beach $2.914 + 7.2 cents $2.999 (9/6/2005)
Orange County $2.885 + 8.2 cents $2.970 (9/6/2005)
San Diego $2.918 + 8.7 cents $3.060 (9/5/2005)
Santa Barbara–Santa Maria–Lompoc $3.006 + 8.2 cents $3.111 (9/7/2005)
Riverside–San Bernardino $2.938 + 5.3 cents $3.030 (9/9/2005)
Bakersfield $2.930 + 12.5 cents $3.167 (9/9/2005)
Las Vegas, NV $2.687 + 7.8 cents $2.968 (9/8/2005)

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