LA Auto Club: Seventh Week of Increases Sees a Dramatic Jump in the Price of Gasoline

    LOS ANGELES--Feb. 14, 2003--The average price of gasoline spiked almost 10 cents per gallon last week as fears of war and supply interruptions caused higher prices for the seventh consecutive week, according to the Weekend Gas Watch compiled by the Automobile Club of Southern California.
    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 $1.789 per gallon, which is 9.4 cents higher than last week's price, 18 cents higher than last month and 51 cents higher than last year.
    In San Diego the price is $1.828, which is 9 cents higher than last week's level, 16 cents higher than last month and 49 cents higher than last year. Motorists in the central coast have an average price of $1.822, which is 8 cents higher than last week's price, 14 cents higher than last month and 45 cents higher than last year.
    "We've seen gasoline prices increase about 22 percent since the first of the year, when the price run-up began," said Carol Thorp, Auto Club spokesperson. "War fears and the on-going petroleum workers strike in Venezuela are the major reasons for the price hikes."

Average prices as of 12:01 a.m., Feb. 14:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.789      +9.4 cents    $2.036 (5/25/01)

San Diego                   $1.828      +9.0 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.822      +8.0 cents    $2.069 (5/16/01)

Las Vegas                   $1.673      +8.3 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.508      +8.3 cents    $1.720 (5/30/01)