LOS ANGELES, CA--(Marketwire - October 19, 2007) - The roller-coaster ride that is Southern California gas prices once again gained momentum in the last week, accelerating by more than a penny a day in most areas to bring many more Southland gas station prices above $3 a gallon, 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 $3.085, which is 9.1 cents higher than last week, 18 cents above last month, and 55 cents more than last year. In San Diego, the price is $3.132, which is 10.3 cents above last week's price, 19 cents up from last month, and 65 cents higher than last year. On the Central Coast, the average price is $3.234, up 10.3 cents from last week, 16 cents above last month, and 43 cents more than last year. In the Inland Empire, the average price is $3.082, 9 cents more than last week, 17 cents above last month, and 59 cents higher than last year.
"This is the seventh week of price increases, but by far the most noticeable because the prices have been increasing much faster in recent days," said Auto Club spokesperson Carol Thorp. "Oil industry analysts are attributing the increase to some reportedly minor West Coast refinery glitches that have caused investor concerns about California gasoline supply, driving up wholesale gasoline prices."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Oct. 19:
Area Regular One-week Record Price
change
Los Angeles - Long Beach $3.085 + 9.1 cents $3.48 (5/9/2007)
Orange County $3.062 + 8.6 cents $3.479 (5/8/2007)
San Diego $3.132 + 10.3 cents $3.503 (5/8/2007)
Santa Barbara -
Santa Maria - Lompoc $3.234 + 10.3 cents $3.614 (5/15/2007)
Riverside -
San Bernardino $3.082 + 9 cents $3.486 (5/8/2007)
Bakersfield $3.077 + 6.4 cents $3.489 (5/7/2007)
Las Vegas, NV $2.849 + 5.6 cents $3.209 (5/29/2007)
Contact Information: Contact: Marie Montgomery Carol Thorp (714) 885-2333