LOS ANGELES, CA--(Marketwire - June 15, 2007) - Southern California pump price averages are still well above $3, but many individual stations are within striking distance of $2.99 as prices tumbled by more than a penny a day in the past week, according to the Automobile Club of Southern California's Weekend Gas Watch.
The average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $3.255, which is 7.8 cents cheaper than last week, 22 cents below last month, and 2 cents under last year. In San Diego, the price is $3.236, which is 8.8 cents below last week's price, 25 cents less than last month, and 5 cents cheaper than last year. On the Central Coast, the average price is $3.446, down 4.8 cents from last week, 16 cents under last month, and 3 cents higher than last year. In the Inland Empire, the average price is $3.229, 8.6 cents below last week, 25 cents less than last month, and 7 cents cheaper than last year.
"It's rare for gas prices to come down this quickly," said Auto Club spokesperson Carol Thorp. "Significant drops in the wholesale gasoline market in California are making these decreases possible, and we are experiencing our fifth straight week of price declines."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., June 15:
Area Regular One-week Record Price
change
Los Angeles - Long Beach $3.255 - 7.8 cents $3.487 (5/9/2007)
Orange County $3.234 - 7.5 cents $3.479 (5/8/2007)
San Diego $3.236 - 8.8 cents $3.503 (5/8/2007)
Santa Barbara - Santa Maria
- Lompoc $3.446 - 4.8 cents $3.614 (5/15/2007)
Riverside - San Bernardino $3.229 - 8.6 cents $3.486 (5/8/2007)
Bakersfield $3.229 - 10.5 cents $3.489 (5/7/2007)
Las Vegas, NV $3.159 - 2.8 cents $3.209 (5/29/2007)
Contact Information: Contact: Marie Montgomery/Carol Thorp (714) 885-2333