LOS ANGELES, CA -- (MARKET WIRE) -- November 17, 2006 -- Gas prices headed upward for the second straight week due to low inventories at California refineries, according to the Automobile Club of Southern California's Weekend Gas Watch.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.459, which is 4.2 cents higher than last week, ten cents lower than last month, and 13 cents lower than last year. In San Diego, the price is $2.506, 6.9 cents above last week's price, half a cent above last month, and 11 cents below last year. On the Central Coast, the average price is $2.707, up 3.6 cents from last week, 12 cents below last month, and two cents higher than last year. In the Inland Empire, the average price is $2.473, up 5.8 cents from last week, five cents below last month, and 14 cents lower than last year.
"California refineries are not operating at full capacity because of seasonal maintenance, but fortunately this is typically a low-demand time of year for gasoline," said Auto Club spokeswoman Carol Thorp. "Motorists getting away for the holiday will still pay less at the pump than they have during any other holiday weekend this year. Prices were more than $3 a gallon during the Memorial Day, Labor Day and July Fourth holidays."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Nov. 17:
One-week
Area Regular change Record Price
---- ------- -------- ------------
Los Angeles - $2.459 +4.2 cents $3.402
Long Beach (5/13/2006)
Orange County $2.412 +4.4 cents $3.371
(5/17/2006)
San Diego $2.506 +6.9 cents $3.438
(5/15/2006)
Santa Barbara - $2.707 +3.6 cents $3.491
Santa Maria - (5/16/2006)
Lompoc
Riverside - San $2.473 +5.8 cents $3.445
Bernardino (5/15/2006)
Bakersfield $2.516 +5.4 cents $3.450
(5/16/2006)
Las Vegas, NV $2.440 +7.7 cents $3.176
(5/17/2006)
Contact Information: Contact: Carol Thorp/Marie Montgomery (714) 885-2333