Auto Club: Gas Prices Find a Plateau

(LOS ANGELES, July 21, 2006) — Gasoline prices appear to have found a plateau as prices in most areas declined slightly, while others experienced small increases, 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 $3.284 which is one cent lower than last week, five cents higher than last month and 70 cents higher than last year. In San Diego, the price is $3.319, six-tenths of a cent above last week’s price, eight cents above last month and 70 cents above last year. On the Central Coast, the average price is $3.417, down 1.3 cents from last week, two cents above last month and 74 cents higher than last year. In the Inland Empire, the average price is $3.306, down seven-tenths of a cent from last week, five cents above last month and 74 cents higher than last year.

“Investors holding large supplies of gas have been selling and taking profits. The resulting increase in supplies on the market is helping to rein in pump prices,” said Auto Club spokesperson Carol Thorp. “Overall, consumer demand remains high. Motorists should not be surprised if gas prices turn upward again.”

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., July 21:

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