LA Auto Club: Gas Prices Down Across the Southwest; Fifth Straight Week of Declines

    LOS ANGELES--Oct. 11, 2002--Gasoline prices in Southern California, southern Nevada and Arizona declined last week for the fifth consecutive week, according to the Weekend Gas Watch compiled by the Automobile Club of Southern California.
    Burgeoning supplies of refined fuel and weak demand are seen as the cause. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.563 per gallon, which is 1.9 cents lower than last week's price, 6 cents lower than last month and 4 cents higher than last year.
    In San Diego the price is $1.629 which is 1.2 cents lower than last week's level, 4 cents below last month and 4 cents lower than last year. Motorists in the central coast have an average price of $1.626, which is 3.2 cents below last week's price, 8 cents lower than last month and 3 cents lower than last year.
    "In spite of threats of hostilities in the Middle East, we're experiencing what would be typical for October, which is ample supply of gas and a lower demand," said Carol Thorp, Auto Club spokesperson. "It appears that at this time, regular market forces are having a greater impact on pump prices than war fears."

Average prices as of 12:01 a.m., Oct. 11:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.563      -1.9 cents    $2.036 (5/25/01)

San Diego                   $1.629      -1.2 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.626      -3.2 cents    $2.069 (5/16/01)

Las Vegas                   $1.458      -1.5 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.383      -1.2 cents    $1.720 (5/30/01)