LOS ANGELES, CA--(Marketwire - January 4, 2008) - The holidays are over, and so are the gas price declines. Pump prices raced up by a penny a day in most local areas during the first week of the new year, 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 $3.303, which is 8.1 cents higher than last week, 5 cents less than last month, and 68 cents more than last year. In San Diego, the price is $3.316, which is 6.1 cents more than last week's price, 7 cents down from last month, and 63 cents higher than last year. On the Central Coast, the average price is $3.413, up 3.5 cents from last week, 2 cents below last month, and 58 cents more than last year. In the Inland Empire, the average price is $3.294, 8.1 cents above last week, 5 cents below last month, and 65 cents higher than last year.
"Oil industry analysts are pointing to ongoing record crude prices as the reason behind continued high pump prices both in California and nationwide, with the national average now standing at $3.05 a gallon," said Auto Club spokesperson Jeffrey Spring. "One month of price decreases in California between Thanksgiving and Christmas brought averages down by less than 20 cents before they started heading back up in the last week and a half."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Jan. 4:
One-week
Area Regular change Record Price
Los Angeles -
Long Beach $ 3.303 + 8.1 cents $ 3.487 (5/9/2007)
Orange County $ 3.267 + 9.4 cents $ 3.479 (5/8/2007)
San Diego $ 3.316 + 6.1 cents $ 3.503 (5/8/2007)
Santa Barbara -
Santa Maria -
Lompoc $ 3.413 + 3.5 cents $ 3.614 (5/15/2007)
Riverside - San
Bernardino $ 3.294 + 8.1 cents $ 3.486 (5/8/2007)
Bakersfield $ 3.285 + 3.8 cents $ 3.489 (5/7/2007)
Las Vegas, NV $ 3.076 + 2.6 cents $ 3.209 (5/29/2007)
Contact Information: Contact: Marie Montgomery/Elaine Beno (714) 885-2333