Prices Back Off Record Highs

(LOS ANGELES, May 18, 2007) — More than a week after reaching new records in most areas, Southern California gas prices have dropped slightly, 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 $3.462, which is two cents cheaper than last week, 15 cents higher than last month, and six cents above last year. In San Diego, the price is $3.465, which is 2.7 cents below last week’s price, one cent above last month, and three cents higher than last year. On the Central Coast, the average price is $3.587, down 1.7 cents from last week, 15 cents above last month, and 11 cents higher than last year. In the Inland Empire, the average price is $3.463, 1.7 cents below last week, 12 cents higher than last month, and two cents higher than last year.

“The price decrease is probably barely noticeable to consumers when they’re already paying so much for gas,” said Auto Club spokesperson Carol Thorp. “At least the numbers are heading in the right direction — down. But it’s still too early to tell if this is true relief or just a price plateau.”

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., May 18:

Area RegularOne-week change Record price
Los Angeles – Long Beach $3.462 - 2.0 cents $3.487 (5/9/2007)
Orange County $3.451 - 2.6 cents $3.479 (5/8/2007)
San Diego $3.465 - 2.7 cents $3.503 (5/8/2007)
Santa Barbara - Santa Maria - Lompoc $3.587 - 1.7 cents $3.614 (5/15/2007)
Riverside - San Bernardino $3.463 - 1.7 cents $3.486 (5/8/2007)
Bakersfield$3.457 - 1.8 cents $3.489 (5/7/2007)
Las Vegas, NV $3.185 + 1.9 cents $3.185 (5/17/2007)