LOS ANGELES, CA--(Marketwire - January 25, 2008) - Gas prices continued falling rapidly throughout Southern California for the second straight week, 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 $3.175, which is 9.1 cents lower than last week, 5 cents less than last month, and 66 cents above last year. In San Diego, the price is $3.182, which is 8.9 cents less than last week's price, 8 cents below last month, and 65 cents higher than last year. On the Central Coast, the average price is $3.318, down 6.1 cents from last week, 6 cents under last month, and 59 cents more than last year. In the Inland Empire, the average price is $3.154, 9.8 cents below last week, down 6 cents from last month, and 63 cents higher than last year.
"More and more gas stations are displaying prices under $3 a gallon as this decline continues," said Auto Club spokesperson Jeffrey Spring. "California now has the fifth most expensive gasoline in the country, instead of its usual position of having the second most expensive gasoline. Analysts say this is because California refineries have an unexpected surplus of supply and prices are falling even faster than in other states as a result."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Jan. 25:
Area Regular One-week Record Price
change
Los Angeles - Long Beach $ 3.175 - 9.1 cents $ 3.487 (5/9/2007)
Orange County $ 3.101 - 9.5 cents $ 3.479 (5/8/2007)
San Diego $ 3.182 - 8.9 cents $ 3.503 (5/8/2007)
Santa Barbara -
Santa Maria - Lompoc $ 3.318 - 6.1 cents $ 3.614 (5/15/2007)
Riverside -
San Bernardino $ 3.154 - 9.8 cents $ 3.486 (5/8/2007)
Bakersfield $ 3.149 - 8.1 cents $ 3.489 (5/7/2007)
Las Vegas, NV $ 3.000 - 5.8 cents $ 3.209 (5/29/2007)
Contact Information: Contact: Marie Montgomery/Jeffrey Spring (714) 885-2333