Gas Prices Retreat Before Reaching Records

(LOS ANGELES, Nov. 30, 2007) - Gas prices inched down slightly and posted a weekly decline in most areas for the first time in nearly three months, 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 $3.381, which is 1.9 cents lower than last week, 25 cents above last month, and 89 cents more than last year. In San Diego, the price is $3.410, which is 0.7 cents less than last week's price, 23 cents up from last month, and 86 cents higher than last year. On the Central Coast, the average price is $3.474, down 2.3 cents from last week, 22 cents above last month, and 76 cents more than last year. In the Inland Empire, the average price is $3.372, 2.5 cents under last week, 25 cents above last month, and 88 cents higher than last year.
"While gas price averages are lower than they were this time last week, there hasn't been a steady daily decline in most Southern California areas, so it's too early to say if this downward trend will continue," said Auto Club spokesperson Jeffrey Spring. "The Southland came within 10 cents of breaking all-time record prices that we saw in May."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Nov. 30:
Area                     Regular One-week changeRecord Price   
Los Angeles – Long Beach$3.38     - 1.9 cents $3.487 (5/9/2007)
Orange County $3.35     - 3 cents $3.479 (5/8/2007)
San Diego $3.41     - 0.7 cents $3.503 (5/8/2007)
Santa Barbara – Santa Maria – Lompoc$3.47     - 2.3 cents $3.614 (5/15/2007)
Riverside – San  Bernardino$3.37     - 2.5 cents $3.486 (5/8/2007)
Bakersfield $3.36     - 0.2 cents $3.489 (5/7/2007)
Las Vegas, NV $3.16     + 1.9 cents  $3.209 (5/29/2007)