SOURCE: Auto Club of Southern California
August 03, 2007 03:30 ET
Auto Club: Gas Price Decreases Gain Momentum
LOS ANGELES, CA--(Marketwire - August 3, 2007) - Gas prices have been dropping over the past
week at a pace of nearly a penny a day -- similar to the price drops
experienced in Southern California at the beginning of summer, 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 $3.015, which is 5.6 cents cheaper than last week, 11 cents
below last month, and 23 cents under last year. In San Diego, the price is
$3.038, which is 4.9 cents below last week's price, nine cents under last
month, and 25 cents cheaper than last year. On the Central Coast, the
average price is $3.247, down 5.5 cents from last week, 12 cents under last
month, and 14 cents below last year. In the Inland Empire, the average
price is $2.986, 6.2 cents below last week, 12 cents under last month, and
29 cents cheaper than last year.
"Many Southern California regions have gas price averages under $3 and the
statewide average is now just a nickel above $3," said Auto Club
spokesperson Carol Thorp. "Crude oil prices are now at record highs, but
actually throughout California and the rest of the country, pump prices are
rapidly dropping for the moment."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01
a.m., Aug. 3:
Area Regular One-weekchange Record Price
---- ------- -------------- ------------
Los Angeles - Long Beach $3.015 - 5.6 cents $3.487
(5/9/2007)
Orange County $2.957 - 6.3 cents $3.479
(5/8/2007)
San Diego $3.038 - 4.9 cents $3.503
(5/8/2007)
Santa Barbara - Santa Maria $3.247 - 5.5 cents $3.614
- Lompoc (5/15/2007)
Riverside - San Bernardino $2.986 - 6.2 cents $3.486
(5/8/2007)
Bakersfield $3.060 - 5.2 cents $3.489
(5/7/2007)
Las Vegas, NV $2.890 - 5.4 cents $3.209
(5/29/2007)