LA Auto Club: Sharp Increase in Gas Price; $3 Per Gallon Gas within Sight

LOS ANGELES--April 7, 2006--Gasoline prices rose sharply this week, and the combination of seasonal increases and uncertainties about gas supply could push the average price near $3 per gallon by the end of April, 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 $2.842, which is 9.1 cents higher than last week, 32 cents higher than last month and 35 cents higher than last year. In San Diego, the price is $2.831 -- 8.9 cents above last week's price, 29 cents above last month and 33 cents above last year. On the Central Coast, the average price is $2.924, up 7.7 cents from last week, 28 cents above last month and 34 cents higher than last year. In the Inland Empire, the average price is $2.855, up 9.6 cents from last week, 33 cents above last month and 33 cents higher than last year.

"We're in the time of year when steep price increases are common, but this year prices are being boosted by speculation about whether there will be sufficient gasoline supplies for later in the year," said Auto Club spokesperson Carol Thorp. "It may be several weeks before a clear picture develops on the nation's gasoline production, but in the meantime, prices could climb to near $3 per gallon."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., April 7:

           Area               Regular   Change from    Record Price
                                         last week
Los Angeles-Long Beach         $2.842    +9.1 cents  $2.999 (9/6/2005)

Orange County                  $2.803    +9.4 cents  $2.970 (9/6/2005)

San Diego                      $2.831    +8.9 cents  $3.060 (9/5/2005)

Santa Barbara-Santa Maria-
 Lompoc                        $2.924    +7.7 cents  $3.111 (9/7/2005)

Riverside-San Bernardino       $2.855    +9.6 cents  $3.030 (9/9/2005)

Bakersfield                    $2.805    +7.2 cents  $3.167 (9/9/2005)

Las Vegas                      $2.609   +10.2 cents  $2.968 (9/8/2005)