Ho, Ho, Ho: Gas Prices Go Down, Down, Down for Third Straight Week

(LOS ANGELES, Dec. 14, 2007) – Gas prices dropped for the third week in a row in Southern California, although they are still 75 to 80 cents higher than this time last year, 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 $3.286, which is 5 cents lower than last week, 5 cents under last month, and 80 cents more than last year. In San Diego, the price is $3.310, which is 5 cents less than last week’s price, 6 cents down from last month, and 75 cents higher than last year. On the Central Coast, the average price is $3.390, down 1.8 cents from last week, 6 cents below last month, and 67 cents more than last year. In the Inland Empire, the average price is $3.273, 4.5 cents under last week, 7 cents below last month, and 76 cents higher than last year.

“We are now in the time of year where gas prices are traditionally at their cheapest levels because of lower nationwide demand and lower refinery production costs, so it’s not surprising that prices are declining,” said Auto Club spokesperson Carol Thorp. “Unfortunately, high oil prices and market speculation created a three-month gas price spike this fall, so there’s still a long way to go to get to the levels we saw in September.”
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Dec. 14:
Area                     Regular One-week changeRecord Price   
Los Angeles – Long Beach$3.29     - 5 cents $3.487 (5/9/2007)
Orange County $3.24     - 5.3 cents $3.479 (5/8/2007)
San Diego $3.31     - 5 cents $3.503 (5/8/2007)
Santa Barbara – Santa Maria – Lompoc$3.39     - 1.8 cents $3.614 (5/15/2007)
Riverside – San  Bernardino$3.27     - 4.5 cents $3.486 (5/8/2007)
Bakersfield $3.28     - 1.4 cents $3.489 (5/7/2007)
Las Vegas, NV $3.08     - 3.4 cents  $3.209 (5/29/2007)