LA Auto Club: No End in Sight as Prices Rise for Seventh Straight Week

LOS ANGELES--Feb. 20, 2004--Gasoline prices continued their upward march last week with the promise that more and steeper increases might be on the way, according to the Automobile Club of Southern California's Weekend Gas Watch. The national average for gasoline increased nine-tenths of a cent per gallon.

Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.930, which is 4.1 cents higher than last week. This price is 19 cents higher than last month and 7 cents higher than last year. In San Diego, the price is $1.958, which is 6 cents above last week's level, 22 cents above last month and 6 cents higher than last year. Motorists in the central coast pay an average price of $2.016, which is 12.5 cents higher than last week's price, 17 cents above last month and 14 cents higher than last year.

"Pump prices were already feeling upward pressure from unusually strong demand for this time of year. Investors, unsure about refiners' ability to meet that demand, bid up the price of gasoline on the wholesale market this week," said Carol Thorp, Auto Club spokesperson. "Inflated wholesale prices will show up at the retail pump in the next week with continuing higher prices."

The Weekend Gas Watch monitors the average price of gasoline at metropolitan destinations throughout the nation. Average prices as of 12:01 a.m., Feb. 20, 2004:

Area                Regular  Change from last week     Record Price

Los Angeles-Long
 Beach               $1.930        +$0.041          $2.167 (3/22/2003)

San Diego            $1.958        +$0.060          $2.211 (3/20/2003)

Santa Barbara-Santa
 Maria-Lompoc        $2.016        +$0.125          $2.233 (8/27/2003)

The national average price of gasoline increased nine-tenths of a cent per gallon last week. Prices are stabilizing in many regions of the country as refiners are forced to sell off inventories of winter grade fuel. Within a month, the national average should begin increasing steadily as refiners complete their change to the production of summer grade fuel.

Area                Regular  Change from last week    Record Price

National Average     $1.643        +$0.009          $1.737 (8/30/2003)

New York             $1.836        -$0.003           $1.968 (9/6/2003)

Washington, D.C.     $1.685        +$0.002          $1.797 (5/16/2001)

Boston               $1.670        +$0.001           $1.812 (9/3/2003)

Philadelphia         $1.670        +$0.007           $1.807 (9/3/2003)

Atlanta              $1.561        +$0.006          $1.589 (3/18/2003)

Miami                $1.696        +$0.006          $1.761 (3/18/2003)

Chicago              $1.753        +$0.002          $2.142 (6/19/2000)

Detroit              $1.653        +$0.003          $2.137 (6/20/2000)

Kansas City, Mo.     $1.531        +$0.021          $1.790 (6/21/2000)

St. Louis            $1.575        -$0.038          $1.767 (5/17/2001)

Denver               $1.533        +$0.033           $1.780 (6/5/2001)

Dallas               $1.572        +$0.003          $1.666 (5/12/2001)

Houston              $1.550        $0.000           $1.639 (5/12/2001)

Salt Lake City       $1.600        +$0.006           $1.789 (9/4/2003)

Las Vegas            $1.837        +$0.048          $2.063 (3/25/2003)

Phoenix              $1.723        +$0.048          $2.146 (8/26/2003)

Seattle              $1.708        +$0.001           $1.969 (9/4/2003)

San Francisco        $2.005        +$0.032          $2.276 (3/19/2003)

Honolulu             $1.991        -$0.001          $2.054 (10/2/2003)