Auto Club: Gas Prices May Be Peaking

Weekly Fuel Prices Report

(LOS ANGELES, April 13, 2007) — Southern California gas price averages stabilized in the last week, remaining within a penny of levels they reached last week and about 15 cents shy of the record high prices achieved last May, 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 $3.261, which is one-tenth of one cent higher than last week, 20 cents higher than last month, and 37 cents higher than last year. In San Diego, the price is $3.295, which is four-tenths of a cent above last week�s price, 22 cents above last month, and 39 cents above last year. On the Central Coast, the average price is $3.375, up 1 cent from last week, 19 cents above last month, and 39 cents higher than last year. In the Inland Empire, the average price is $3.290, three-tenths of a cent above last week, 22 cents higher than last month, and 37 cents higher than last year.

�Wholesale gasoline prices in California started going down more than two weeks ago, and that decrease may have finally started trickling down to affect gas station prices,� said Auto Club spokesperson Carol Thorp. �Oil industry analysts say that�s because more refineries in the state now are increasing their output.�

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., April 13:

Area Regular One-week change Record price
Los Angeles – Long Beach $3.261 +0.1 cent $3.402 (5/13/2006)
Orange County $3.241 +0.7 cent $3.371 (5/17/2006)
San Diego $3.295 +0.4 cent $3.438 (5/15/2006)
Santa Barbara - Santa Maria - Lompoc $3.375 +1.0 cent $3.491 ( 5/16/2006)
Riverside - San Bernardino $3.290 +0.3 cent $3.445 ( 5/15/2006)
Bakersfield $3.286 -0.2 cent $3.450 ( 5/16/2006)
Las Vegas, NV $2.978 +2.7 cents $3.176 ( 5/17/2006)

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