Holiday Week Brings More Gas Price Drops

(LOS ANGELES, July 6, 2007) – Gas prices continued dropping across Southern California for the eighth straight week and are now about 10 percent below the all-time records they hit in 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 $3.114, which is 3.3 cents cheaper than last week, 24 cents below last month, and 13 cents under last year. In San Diego, the price is $3.118, which is two cents below last week’s price, 23 cents under last month, and 13 cents cheaper than last year. On the Central Coast, the average price is $3.339, down 5.4 cents from last week, 16 cents under last month, and five cents lower than last year. In the Inland Empire, the average price is $3.084, 3.8 cents below last week, 25 cents less than last month, and 18 cents cheaper than last year.

“During the Fourth of July holiday week in 2006, Southern California gas prices started rising again after dropping in May and June,” said Auto Club spokesperson Carol Thorp. “Summer gas prices have presented a mixed picture in recent times. Some years had steady declines throughout summer, and other years have brought increases in July and August.”

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., July 6:

Area RegularOne-week change Record price
Los Angeles – Long Beach $ 3.114- 3.3 cents $3.487 (5/9/2007)
Orange County $3.059 - 3.5 cents $3.479 (5/8/2007)
San Diego $3.118 - 2.0 cents $3.503 (5/8/2007)
Santa Barbara - Santa Maria - Lompoc $3.339 - 5.4 cents $3.614 (5/15/2007)
Riverside - San Bernardino $3.084 - 3.8 cents $3.486 (5/8/2007)
Bakersfield$3.146 - 2.2 cents $3.489 (5/7/2007)
Las Vegas, NV $3.038 - 3.4 cents $3.209 (5/29/2007)