SoCal Gas Prices Plunge Quickly

As oil prices hit new six-year lows and world stock markets tumbled, gas price drops accelerated this week throughout Southern California, according to the Automobile Club of Southern California's Weekend Gas Watch. The retail state average is $3.403 a gallon for regular today, 14 cents less than last week.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.626 per gallon, which is 15.7 cents less than last week, 54 cents less than last month, and 22 cents lower than last year. In San Diego, the average price is $3.549, which is 17.4 cents less than last week, 56 cents lower than last month, and 28 cents less than this time last year. On the Central Coast, the average price is $3.598, 11.1 cents less than last week, 48 cents lower than a month ago, and 32 cents less than last year. In the Inland Empire, the average per-gallon price is $3.545, 15.7 cents lower than last week, 56 cents less than last month, and 26 cents less than last year.

“For the first time in several months, California gas prices are not the most expensive in the US – Alaska has a slightly higher average today at $3.42 compared to $3.40 here,” said Auto Club spokesman Jeffrey Spring. “Alaska, Hawaii and California are still the only states with price averages higher than $3, but local drivers are benefiting from a rapid price downturn caused by lower oil prices and some anticipations of lower gasoline demand. If local refinery issues don’t reappear, we can expect further drops in coming weeks.”

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on Aug. 27, averages are: