LOS ANGELES, CA -- (MARKET WIRE) -- November 3, 2006 -- After 11 straight weeks of declines, gas price averages in most Southern California areas are now one dollar or more below the record peaks they reached in May of this year, according to the Automobile Club of Southern California's Weekend Gas Watch.
"Gas prices in the most populated Southern California areas have declined by about 30 percent from their all-time records in May, meaning that it now costs drivers $10 to $20 less every time they fill up their gas tanks," said Auto Club spokesperson Carol Thorp. "Price declines have flattened out in many other parts of the country, but so far, most California areas are still seeing steady price drops each week."
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.402, which is 6.6 cents lower than last week, 31 cents lower than last month, and 36 cents lower than last year. In San Diego, the price is $2.403, 3.1 cents below last week's price, 23 cents below last month, and 38 cents below last year. On the Central Coast, the average price is $2.694, down 5.2 cents from last week, 26 cents below last month, and 18 cents lower than last year. In the Inland Empire, the average price is $2.387, down 4.1 cents from last week, 28 cents below last month, and 40 cents lower than last year.
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Nov. 3:
Area One-week 11-week Record Drop from
Regular change drop, Price record price
8/18/06-
11/3/06
Los Angeles - $2.402 -6.6 cents -83 cents $3.402 -$1.00
Long Beach (5/13/2006)
Orange County $2.336 -4.8 cents -87 cents $3.371 -$1.03
(5/17/2006)
San Diego $2.403 -3.1 cents -84 cents $3.438 -$1.04
(5/15/2006)
Santa Barbara - $2.694 -5.2 cents -70 cents $3.491 -79 cents
Santa Maria - (5/16/2006)
Lompoc
Riverside - $2.387 -4.1 cents -88 cents $3.445 -$1.06
San Bernardino (5/15/2006)
Bakersfield $2.457 -1.7 cents -75 cents $3.450 -99 cents
(5/16/2006)
Las Vegas, NV $2.363 -3.6 cents -66 cents $3.176 -81 cents
(5/17/2006)
Contact Information: Contact: Carol Thorp/Marie Montgomery (714) 885-2333