Prices for regular gasoline in Southern California dropped by double digits for the third consecutive week as oil prices and demand for fuel continue to drop, according to the Automobile Club of Southern California's Weekend Gas Watch. Today’s retail statewide average is $3.01 a gallon for regular unleaded, which is 12 cents less than last week.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.07 per gallon, which is 12 cents lower than last week, 48 cents lower than a month ago, and 62 cents lower than last year. In San Diego, the average price is $3.05, which is 11 cents lower than last Thursday, 49 cents less than last month, and 59 cents lower than last year. On the Central Coast, the average price is $3.19, which is 11 cents lower than last week, 38 cents lower than last month, and 37 cents lower than last year. In Riverside, the average per-gallon price is $2.95, which is 13 cents lower than last week, 49 cents lower than last month, and 60 cents lower than last year. In San Bernardino, the $3.01 average price is 13 cents less than last week, 49 cents lower than last month, and 60 cents lower than a year ago today.
“While oil prices jumped today on the hope that Saudi Arabia and Russia can agree on production cuts, the fact remains that gasoline demand has continued to weaken,” said Auto Club spokesman Jeffrey Spring. “California reformulated gasoline production fell by more than 25 percent and inventories increased over the past week, so we expect to see retail prices continue to decline.”
The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on April 1, averages are: