Gas Prices Now Lowest Since Last February

Local gas prices continued to drop by about a penny a day, extending the downward trend to 29 days in a row and giving Southern California drivers the lowest pump prices since Feb. 10 of last year, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $2.618 a gallon for regular today, 7.3 cents less than last Thursday.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.71 per gallon, which is 7.1 cents lower than last week, 36 cents less than last month, and 18 cents higher than last year. In San Diego, the average price is $2.677, which is 6.7 cents less than last week, 37 cents lower than last month, and 18 cents more than this time last year. On the Central Coast, the average price is $2.642, 6 cents less than last week, 36 cents lower than a month ago, and 11 cents more than last year. In the Inland Empire, the average per-gallon price is $2.674, 7.2 cents lower than last week, 35 cents less than last month, and 21 cents more than last year.

“The daily price reductions at the pump are slowing down, suggesting that local area prices will soon be impacted by increased costs at refineries as they shut units for maintenance and begin producing the more expensive summer blend of gasoline mandated by state air quality requirements,” said Auto Club spokesman Jeffrey Spring. “Although the summer blend is not required to be sold until April 1, refineries typically begin making it at least a month ahead to build up supply, while tapering off production of the winter blend.”

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Feb. 4, averages are: