LA Auto Club: Gasoline Prices Maintain Downward Trend

LOS ANGELES--Oct. 10, 2003--For the sixth consecutive week, gasoline prices declined throughout the Southwest, bringing the average price below $1.90 per gallon in the Los Angeles and San Diego regions for the first time in two months, according to the Automobile Club of Southern California's Weekend Gas Watch.

Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.890 per gallon, which is 5.5 cents lower than last week, 22 cents lower than last month and 32 cents higher than last year. In San Diego, the price is $ 1.878, which is 5.8 cents below last week's level, 26 cents below last month and 25 cents higher than last year. Motorists in the Central Coast pay an average price of $1.972, which is 6.1 cents lower than last week's price, 25 cents below last month and 35 cents higher than last year.

"The downward trend in gas prices should continue for the next few weeks," said Carol Thorp, Auto Club spokesperson. "While the price of crude oil has been fluctuating, the California gasoline market has ample supply coupled with lower demand. These factors should motivate retailers to continue lowering prices."

The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips. Average prices as of 12:01 a.m., Oct. 10, 2003:

Area                       Regular   Change from      Record Price
                                      last week               

Los Angeles-Long Beach     $1.890     -5.5 cents      $2.167 (3/22/03)

San Diego                  $1.878     -5.8 cents      $2.211 (3/20/03)

Santa Barbara-
Santa Maria-Lompoc         $1.972     -6.1 cents      $2.233 (8/27/03)

Las Vegas                  $1.734     -3.6 cents      $2.063 (3/25/03)

Phoenix                    $1.768     -6.2 cents      $2.146 (8/26/03)