Auto Club: Gas Prices Level Off Slightly

(LOS ANGELES, Jan. 30, 2009) – Local gas prices bounced up and down a little over the past several days but ultimately ended the week with a slight increase, 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 $2.077 per gallon, which is 1.5 cents more than last week, 29 cents higher than last month, and $1.03 under last year. In San Diego, the price is $2.102, which is two cents more than last week’s price, 27 cents above last month, and $1.00 lower than last year. On the Central Coast, the average price is $2.159, up 1.6 cents from last week, 29 cents up from last month, and $1.10 below last year. In the Inland Empire, the average per gallon price is $2.074, which is 2.1 cents over last week, 29 cents more than last month, and $1.01 less than last year.

“We seem to have experienced a lull in price increases just after most Southern California gas stations posted prices over $2 a gallon,” said Auto Club spokesperson Jeffrey Spring. “Demand for gasoline is at a five-year low as a result of the economic downturn. However, there could be some California supply worries on the horizon as a result of the announcement that the Big West Refinery in Bakersfield is shutting down indefinitely.”

The Weekend Gas Watch monitors the average price of gasoline as of 3:07 a.m. on Jan. 30.

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