LA Auto Club: Big Drop in Retail Gas Prices

    LOS ANGELES--April 25, 2003--For the fifth consecutive week, gasoline prices fell in the Southwest, and market forces indicate retail prices will continue to decline further, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $2.014 per gallon, which is 8.9 cents lower than last week's price, 15 cents lower than last month and 39 cents higher than last year.
    In San Diego the price is $2.032, which is 8.7 cents below last week's level, 18 cents below last month and 36 cents above last year. Motorists in the central coast have an average price of $2.082, which is 5.9 cents lower than last week's price, 12 cents lower than last month and 39 cents higher than last year.
    "Wholesale gasoline prices still are trending downward, but not as steeply as in the past month," said Carol Thorp, spokesperson for the Automobile Club of Southern California. "Dealer profits remain fairly strong, indicating that competition should push prices lower for at least the next couple of 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., April 25:

Area                        Regular   Change from    Record Price
                                       last week

Los Angeles-Long Beach      $2.014     -8.9 cents   $2.167 (3/22/03)

San Diego                   $2.032     -8.7 cents   $2.211 (3/20/03)

Santa Barbara-Santa Maria-
Lompoc                      $2.082     -5.9 cents   $2.207 (3/22/03)

Las Vegas                   $1.946     -4.2 cents   $2.063 (3/25/03)

Phoenix-Mesa, Ariz.         $1.907     -3.0 cents   $2.003 (3/22/03)