LA: Gas Prices Reach Plateau

LOS ANGELES--April 26, 2002--Pump prices appear to have reached a plateau with the average price of gasoline remaining effectively the same compared with the previous week, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.

For the second week in a row, the Los Angeles-Long Beach area recorded a decline of one-tenth of a cent per gallon. 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 $1.625 per gallon, which is one-tenth of a cent lower than last week's price, 8 cents higher than last month's price and 16 cents lower than the price at this time last year.

In San Diego the price is $1.671, which is six-tenths of a cent lower than last week's level, 7 cents higher than last month and 23 cents lower than last year. Motorists in the central coast have an average price of $1.691, which is one-tenth of a cent above last week's price, 10 cents higher than last month's price and 25 cents lower than the price last year.

"Over the past two to three weeks, price stability has returned at about the same time fears of a wider conflict in the Middle East have eased," said Auto Club spokesperson Jeffrey Spring. "We're about a month from the start of the summer driving season so there could be a slight upward bump as we approach Memorial Day."

Average prices as of 12:01 a.m., April 26:

Area                       Regular      Change from    Record Price
                                         last week

Los Angeles-Long Beach      $1.625      -0.1 cents     $2.036 (5/25)

San Diego                   $1.671      -0.6 cents     $2.025 (5/29)

Santa Barbara-Santa Maria-
Lompoc                      $1.691      +0.1 cents     $2.069 (5/16)

Las Vegas                   $1.500      +0.4 cents     $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.373      +1.6 cents     $1.720 (5/30)