LA Auto Club: Five Weeks of Lower Prices and More to Come

LOS ANGELES--May 20, 2005--For the fifth straight week, gasoline prices moved lower last week across Southern California. The lower price trend shows every indication of continuing through the Memorial Day holiday weekend, according to the Automobile Club of Southern California's Weekend Gas Watch.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.495, which is 4.4 cents lower than last week, 12 cents lower than last month and 18 cents higher than last year. In San Diego, the price is $2.495, a 4.1-cent decline from last week, 12 cents below last month and 16 cents above last year. On the Central Coast, the average price is $2.622, down 4.6 cents from last week, 10 cents lower than last month and 19 cents higher than last year. In the Inland Empire, the average price is $2.492, down 6.4 cents from last week, 15 cents below last month and 14 cents above last year.

"After months of wide fluctuations, the month leading up to the summer driving season has seen stability return to the oil and gasoline market," said Auto Club spokesperson Carol Thorp. "Crude oil prices continue to decline and that's reflected at gasoline pumps in Southern California. It's likely that we'll see lower prices for the next few weeks, including the Memorial Day holiday weekend, which is the traditional kick off of the summer driving season."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., May 20, 2005:

Area                        Regular    Change from      Record Price
                                        last week

Los Angeles-Long Beach       $2.495     -4.4 cents  $2.625 (4/13/2005)

Orange County                $2.491     -4.2 cents  $2.605 (4/21/2005)

San Diego                    $2.495     -4.1 cents  $2.626 (4/12/2005)

Santa Barbara-Santa Maria-
 Lompoc                      $2.622     -4.6 cents  $2.730 (4/29/2005)

Riverside-San Bernardino     $2.492     -6.4 cents  $2.649 (4/13/2005)

Bakersfield                  $2.472     -8.3 cents  $2.682 (4/22/2005)

Las Vegas                    $2.362     -5.7 cents  $2.534 (4/14/2005)