LOS ANGELES, CA--(Marketwire - February 1, 2008) - Gas prices continued retreating rapidly for the third straight week, as many more stations across the Southland replaced the "3" in front of their regular unleaded prices with a "2," 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 $3.084, which is 9.1 cents lower than last week, 21 cents less than last month, and 61 cents above last year. In San Diego, the price is $3.093, which is 8.9 cents less than last week's price, 22 cents below last month, and 61 cents higher than last year. On the Central Coast, the average price is $3.240, down 7.8 cents from last week, 18 cents under last month, and 57 cents more than last year. In the Inland Empire, the average price is $3.071, 8.3 cents below last week, down 20 cents from last month, and 60 cents higher than last year.
"With gas prices starting out at such high levels at the start of the year, it's not surprising that we've seen a rapid drop," said Auto Club spokesperson Jeffrey Spring. "But we're still a long way from $2.47 a gallon, which was the average price in Los Angeles at this time last year."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Feb. 1:
Area Regular One-week Record Price
change
Los Angeles - Long Beach $3.084 -9.1 cents $3.487 (5/9/2007)
Orange County $3.001 -10 cents $3.479 (5/8/2007)
San Diego $3.093 -8.9 cents $3.503 (5/8/2007)
Santa Barbara -
Santa Maria - Lompoc $3.240 -7.8 cents $3.614 (5/15/2007)
Riverside - San Bernardino $3.071 -8.3 cents $3.486 (5/8/2007)
Bakersfield $3.121 -2.8 cents $3.489 (5/7/2007)
Las Vegas, NV $2.959 -4.1 cents $3.209 (5/29/2007)
Contact Information: Contact: Marie Montgomery/Jeffrey Spring (714) 885-2333