LOS ANGELES, CA -- (MARKET WIRE) -- May 25, 2007 -- Southern California gas prices continued to fall for a second straight week after reaching all-time records and are now within a nickel of last year's levels in most regions, 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 $3.423, which is 3.9 cents cheaper than last week, 11 cents higher than last month, and 4 cents above last year. In San Diego, the price is $3.422, which is 4.3 cents below last week's price, 7.5 cents above last month, and 1 cent higher than last year. On the Central Coast, the average price is $3.576, down 1.1 cents from last week, 14 cents above last month, and 10 cents higher than last year. In the Inland Empire, the average price is $3.418, 4.5 cents below last week, 8 cents higher than last month, and one-tenth of a cent higher than last year.
"This Memorial Day holiday will be the most expensive holiday weekend ever for gas fill-ups in the Southland, both in terms of real and inflation-adjusted price," said Auto Club spokesperson Jeffrey Spring. "But even as high as Southern California's prices are, they are no longer the most expensive in the country since Midwest refinery problems have pushed prices near or above $3.50 a gallon in Midwestern states."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., May 25:
Area Regular One-week change Record Price Los Angeles - Long Beach $3.423 - 3.9 cents $3.487 (5/9/2007) Orange County $3.405 - 4.6 cents $3.479 (5/8/2007) San Diego $3.422 - 4.3 cents $3.503 (5/8/2007) Santa Barbara - Santa Maria - Lompoc $3.576 - 1.1 cents $3.614 (5/15/2007) Riverside - San Bernardino $3.418 - 4.5 cents $3.486 (5/8/2007) Bakersfield $3.424 - 3.3 cents $3.489 (5/7/2007) Las Vegas, NV $3.199 + 1.4 cents $3.202 (5/21/2007)
Contact Information: Contact: Marie Montgomery Jeffrey Spring (714) 885-2333