Auto Club: Gas Prices Higher But Plateau Could Be Near

(LOS ANGELES, May 12, 2006) — New record high prices for gasoline were set throughout the Southland this week, but prices may be close to a plateau, 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 $3.398, which is 6.1 cents higher than last week, 52 cents higher than last month and 86 cents higher than last year. In San Diego, the price is $3.435 — 7.1 cents above last week's price, 55 cents above last month and 89 cents above last year. On the Central Coast, the average price is $3.476, up 5.8 cents from last week, 50 cents above than last month and 80 cents higher than last year. In the Inland Empire, the average price is $3.439, up 6.7 cents from last week, 53 cents above last month and 88 cents higher than last year.

"Late this week there were indications that prices were beginning to level out, which is consistent with Energy Department reports of higher domestic production and flat demand for gasoline," said Auto Club spokesperson Carol Thorp. "Since prices reached new record high levels beginning in April, motorists have cut back driving, which has put downward pressure on retail prices."

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

AreaRegularChangeRecord Price
Los Angeles–Long Beach$3.398+ 6.1 cents$3.398 (5/11/2006)
Orange County$3.362+ 4.8 cents$3.364 (5/10/2006)
San Diego$3.435+ 7.1 cents$3.435 (5/11/2006)
Santa Barbara–Santa Maria–Lompoc$3.476+ 5.8 cents$3.476 (5/11/2006)
Riverside–San Bernardino$3.439+ 6.7 cents$3.441 (5/10/2006)
Bakersfield$3.443+ 7.9 cents$3.443 (5/11/2006)
Las Vegas, NV$3.150+ 8.5 cents$3.150 (5/11/2006)