(LOS ANGELES, Aug. 1, 2008) - Gas prices dropped like a rock in the last week, setting a new one-week record for price reductions in most of the Southland, 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 $4.279 per gallon, which is 13.1 cents less than last week, 32 cents lower than last month, and $1.25 above last year. In San Diego, the price is $4.216, which is 14.9 cents under last week's price, 37 cents below last month, and $1.16 higher than last year. On the Central Coast, the average price is $4.382, down 12.4 cents from last week, 28 cents below last month, and $1.14 more than last year. In the Inland Empire, the average per gallon price is $4.259, 12.2 cents under last week, down 33 cents from last month, and $1.25 higher than last year.
"We've experienced several weeks in Southern California where gas prices shot up by two cents a day, but this is the only time we know of when they've plunged by about two cents daily for a week in a row," said Auto Club spokesperson Jeffrey Spring. "Lower demand and consumers shopping around for the best gas prices have helped play a role. But even with these sharp decreases, drivers are still paying over a dollar per gallon more than at this time last year."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m. Aug. 1:
- 13.1 cents
- 12.5 cents
- 14.9 cents
- 12.4 cents
- 12.2 cents
- 10.6 cents
- 14.8 cents