LA Auto Club: No End in Sight for Gas Price Hikes

    LOS ANGELES--March 14, 2003--For the 11th consecutive week, the average price of gasoline increased throughout the Southwest last week, posting new record highs, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    Since the beginning of 2003, gasoline prices in the Los Angeles- Long Beach area have risen 25.8 percent.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $2.102 per gallon, which is 7.7 cents higher than last week's price, 32 cents higher than last month and 64 cents higher than last year.
    In San Diego the price is $2.148, which is 8.3 cents higher than last week's level, 32 cents above last month and 66 cents higher than last year. Motorists in the central coast have an average price of $2.131, which is 7.1 cents above last week's price, 25 cents higher than last month and 58 cents higher than last year.
    "Consumer demand for gasoline remains high and inventories of oil and gasoline are very low," Carol Thorp, spokesperson for the Automobile Club of Southern California, said. "Unless consumer demand goes down, it's likely that we'll see higher pump prices for the next few weeks."
    The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips. Average prices as of 12:01 a.m., March 14:

Area                        Regular   Change from    Record Price
                                       last week

Los Angeles-Long Beach      $2.102     +7.7 cents   $2.102 (3/14/03)/a

San Diego                   $2.148     +8.3 cents   $2.148 (3/14/03)/a

Santa Barbara-Santa Maria-
Lompoc                      $2.131     +7.1 cents   $2.131 (3/14/03)/a

Las Vegas                   $1.993     +5.5 cents   $1.993 (3/14/03)/a

Phoenix-Mesa, Ariz.         $1.895    +12.4 cents   $1.895 (3/14/03)/a

(a) New record