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Gas Prices Near Record Highs in Northern California, says AAA

11 August 1999

Gas Prices Near Record Highs in Northern California, says AAA; San Francisco, Eureka and San Jose Break or Equal Prior Price Records

    SAN FRANCISCO--Aug. 10, 1999--West Coast gas prices rose in recent weeks, with some Northern California cities breaking or equaling all-time highs set last spring, AAA reported today in a special survey of select cities.
    "For the second time this year, many consumers are paying record high prices at the gas pumps," said Paul Moreno, spokesman for AAA of Northern California. "Refinery trouble has left West Coast gasoline supplies tight, while the summer driving season and strong economy have kept demand strong."
    Analysts say gasoline production is improving in the state, and imports of California-grade gasoline will help offset tight supplies. But cutbacks of oil production by OPEC-member nations have pushed crude oil prices higher, resulting in higher prices at the pumps.
    "The higher retail prices are mostly a pass-through of higher crude oil costs, and the impact of West Coast refinery problems," said Alan Kovski, an energy analyst with the Kiplinger Washington Letter. "But by this time next month, retail prices should be headed back down."
    In Northern California, local averages for regular unleaded self-serve gasoline (since July 20) are:

--   Chico, $1.64 (up 7 cents and a penny shy of the city's all-time
     high set in April)
--   Eureka, $1.81 (up 6 cents and an all-time high)
--   Fresno, $1.60 (up 14 cents and 2 cents below the city's all-time
     high set in April)
--   Monterey, $1.66 (up a nickel and 5 cents shy of the city's
     all-time high set in April)
--   Oakland, $1.64 (up 6 cents and 8 cents below the city's all-time
     high set in April)
--   Sacramento, $1.61 (up a dime and 6 cents shy of the city's
     all-time high set in April)
--   San Francisco, $1.75 (up 6 cents to an all-time high)
--   San Jose, $1.66 (up 6 cents to equal the city's all-time high set
     in April)
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    Nevada gas prices have also risen since July 20. The Las Vegas average is up 7 cents to $1.44 in three weeks while Reno prices are up 13 cents to an all-time high of $1.71.
    In Utah, the Salt Lake City average of $1.35 also set a record. The city's average price is up 9 cents in three weeks, according to AAA's survey.
    Established nearly 100 years ago, AAA offers a wide array of automotive, travel, insurance and financial services. The California State Automobile Association serves nearly 4 million members and is the second largest regional affiliate of the national AAA organization.

    NOTE TO EDITORS: A chart showing 12 months of city averages is available. This survey is a special survey, measuring only select cities and does not include regional or state averages. AAA will resume its regular monthly gas price survey on August 24.