(LOS ANGELES, Oct. 14, 2005) — The state's retail gasoline market continues to demonstrate see-saw volatility in the aftermath of Hurricanes Katrina and Rita, with prices declining through the region this week after rising the prior week. The current price drop is attributed to a decline in demand caused by high prices since the hurricanes, according to the Automobile Club of Southern California's Weekend Gas Watch.
The average price of self-serve regular gasoline in the Los AngelesLong Beach area is $2.957, which is two cents lower than last week, three cents lower than last month and 63 cents higher than last year. In San Diego, the price is $2.993 two cents below last week's price, four cents below last month and 62 cents above last year. On the Central Coast, the average price is $3.025, down 1.7 cents from last week, seven cents lower than last month and 54 cents higher than last year. In the Inland Empire, the average price is $2.979, down 1.8 cents from last week, two cents below last month and 62 cents higher than last year.
"Twice this year, the average price of gasoline rose to near $3 per gallon and each time demand fell off," Auto Club spokeswoman Carol Thorp said. "It appears, for the time being, that $3 per gallon is the threshold at which Californians will change their behavior and cut back driving."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Oct. 14:
Area | Regular | Change | Record Price |
Los Angeles–Long Beach | $2.957 | - 2.0 cents | $2.999 (9/6/2005) |
Orange County | $2.898 | - 3.7 cents | $2.970 (9/6/2005) |
San Diego | $2.993 | - 2.0 cents | $3.060 (9/5/2005) |
Santa Barbara–Santa Maria–Lompoc | $3.025 | - 1.7 cents | $3.111 (9/7/2005) |
Riverside–San Bernardino | $2.979 | - 1.8 cents | $3.030 (9/9/2005) |
Bakersfield | $3.011 | - 4.2 cents | $3.167 (9/9/2005) |
Las Vegas, NV | $2.838 | - 3.4 cents | $2.968 (9/8/2005) |
###