Auto Club: Significant Increases At the Pump as Prices Rise for 10th Straight Week

    LOS ANGELES--March 15, 2002--After nine weeks of moderate to light increases, gasoline prices jumped dramatically in the preceding week, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.477 per gallon, which is 11.4 cents above last week's price. In San Diego the price is $1.519, which is 9.4 cents higher than last week's level. Motorists in the central coast have an average price of $1.532, which is 9 cents above last week's price.
    The price for L.A.-Long Beach is 20 cents higher than prices a month ago; however, it is 15 cents below the price at this time last year.
    "Two factors affecting pump prices at this time are lower gasoline production caused by decreased demand in January and February and a gradual improvement in the economy, which has started to boost demand for gas," said Auto Club spokesperson Jeffrey Spring. "There are ample supplies of gasoline and crude oil so motorists should not fear any shortages in the coming months."

Average prices as of 12:01 a.m., March 15:

Area                       Regular      Change from    Record Price
                                         last week

Los Angeles-Long Beach      $1.477      +11.4 cents    $2.036 (5/25)

San Diego                   $1.519       +9.4 cents    $2.025 (5/29)

Santa Barbara-Santa Maria-
Lompoc                      $1.532       +9.0 cents    $2.069 (5/16)

Las Vegas                   $1.309       +4.8 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.166      +10.1 cents    $1.720 (5/30)