Gas prices in most areas of Southern California headed slightly downward and posted their second weekly drop of the year, but wholesale prices have tumbled much faster and are now the lowest in the U.S., according to the Auto Club’s Weekend Gas Watch. The average price for self-serve regular gasoline in California is $4.39, which is one cent lower than last week. The average national price is $3.19, which is one cent higher than a week ago.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $4.40 per gallon, which is unchanged for two weeks in a row, one cent lower than last month, and $1.18 higher than last year. In San Diego, the average price is $4.35, which is down one cent from than last week and last month, and $1.14 higher than last year.
On the Central Coast, the average price is $4.35, which is two cents lower than last week, one cent higher than last month, and $1.12 higher than last year. In Riverside, the average per-gallon price is $4.31, which is one cent lower than last week, one cent lower than last month, and $1.15 higher than last year. In Bakersfield, the $4.34 average price is one cent lower than last week, one cent lower than last month, and $1.17 higher than a year ago today.
“Tom Kloza of Oil Price Information Service reports today that wholesale Los Angeles gasoline is trading at about $2.15 – more than $2 below current retail price averages,” said Auto Club spokesman Jeffrey Spring. “A combination of plentiful imported gasoline in Southern California and Ida-related increased gasoline costs elsewhere is the reason for this unusual situation. We should be starting to see some substantial retail price decreases soon.”
The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Sept. 16, averages are: