LA AAA: Gas Price Declines Recorded for Seventh Straight Week

    LOS ANGELES--Oct. 25, 2002--Gasoline prices continued their downward trend last week, as crude oil prices fell on worldwide markets, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    Gasoline prices have now declined in Southern California for seven consecutive weeks. 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 $1.526 per gallon, which is 1.9 cents lower than last week's price, 8 cents lower than last month and 11 cents higher than last year.
    In San Diego the price is $1.600 which is 1.5 cents lower than last week's level, 5 cents below last month and 2 cents above last year. Motorists in the central coast have an average price of $1.615, which is six-tenths of a cent below last week's price, 8 cents lower than last month and 3 cents higher than last year.
    "We are seeing crude oil prices worldwide drop as hostilities in the Middle East appear less imminent," Auto Club spokesperson Carol Thorp said. "While lower prices in California are caused, primarily, by ample supply and weak demand, the decline in crude oil prices will likely add more downward pressure on prices at the pump."

Average prices as of 12:01 a.m., Oct. 25:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.526      -1.9 cents    $2.036 (5/25/01)

San Diego                   $1.600      -1.5 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.615      -0.6 cents    $2.069 (5/16/01)

Las Vegas                   $1.439      -1.2 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.372      -0.8 cents    $1.720 (5/30/01)