Gas Prices Head Upward On Supply Issues, Higher Crude Prices, Says Auto Club

Weekly Fuel Prices Report

(LOS ANGELES, Dec. 15, 2006) — Refinery production problems have pushed wholesale gasoline prices upward this month, causing an uptick in prices at the gas pump this week, 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 $2.50, which is three cents higher than last week, four cents higher than last month, and 21 cents higher than last year. In San Diego, the price is $2.567, 2.8 cents above last week's price, six cents above last month, and 25 cents above last year. On the Central Coast, the average price is $2.741, up 3.3 cents from last week, four cents above last month, and 29 cents higher than last year. In the Inland Empire, the average price is $2.52, 2.2 cents above last week, six cents higher than last month, and 20 cents higher than last year.

"Oil industry analysts are saying that the gasoline production problems are relatively minor, but California doesn't have many backup sources of refined gasoline because of the specialized blend the state uses for air quality purposes," said Auto Club spokesperson Carol Thorp. "OPEC's announcement on Thursday that it will cut crude oil production by 500,000 barrels per day is another factor that could affect prices."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Dec. 15:

Area
Regular
One-week change
Record price
Los Angeles – Long Beach $2.50 + 3 cents $3.402 ( 5/13/2006)
Orange County $2.458 + 3.7 cents $3.371 ( 5/17/2006)
San Diego $2.567 + 2.8 cents $3.438 ( 5/15/2006)
Santa Barbara – Santa Maria – Lompoc $2.741 + 3.3 cents $3.491 ( 5/16/2006)
Riverside – San Bernardino $2.520 + 2.2 cents $3.445 ( 5/15/2006)
Bakersfield $2.572 + 1.9 cents $3.450 ( 5/16/2006)
Las Vegas, NV $2.482 + 1.3 cents $3.176 ( 5/17/2006)

###