Auto Club: Va-Va-Vroom Month For Gas Prices

(LOS ANGELES, June 9, 2009) — The biggest gasoline price spike of 2009 for Southern Californians has hit during the past month, according to the Automobile Club of Southern California monthly Fuel Gauge Report.

The Southern California June average price for regular self-serve gasoline is $2.923, 48 cents higher than the May average price of $2.444. This month’s average price is $1.55 lower than last year’s June price average of $4.47.

The statewide average price of $2.915 is 46 cents higher than the May average of $2.45. Marysville in Northern California has the state’s lowest gas price average at $2.845. Eureka has the highest price average in the state at $3.156.

Nationally, the average price of $2.619 is 37 cents higher than the May average of $2.248. The rapid run-up in California prices means the state has surpassed both Alaska and Hawaii to have the most expensive gasoline in the country – something which also occurred last June. South Carolina has the lowest state average price at $2.403.

“This year’s spring price spike came late and hit hard, and there’s no way of knowing when it will end because it’s tied to investor sentiment, not supply and demand,” said Auto Club spokesperson Jeffrey Spring. “AS long as investors continue to buy crude oil and wholesale gasoline in the belief that it will make them money, it’s difficult to see the end. However, last year, Southern California prices peaked in late June.”

In Southern California, the averages for regular and premium grades of gasoline are listed below: