LA Auto Club: Gas Prices Crest and Begin to Move Downward

    LOS ANGELES--May 3, 2002--After two straight weeks in which pump prices declined by only tenths of a cent, last week the average price of gasoline dipped a full cent in the Los Angeles-Long Beach area, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    Prices in San Diego and the central coast also declined. 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 $1.615 per gallon, which is 1 cent lower than last week's price, 1 cent higher than last month's price and 22 cents lower than the price at this time last year.
    In San Diego the price is $1.667 which is four-tenths of a cent lower than last week's level, 1 cent higher than last month and 27 cents lower than last year. Motorists in the central coast have an average price of $1.680, which is 1.1 cents below last week's price, 3 cents higher than last month's price and 30 cents lower than the price last year.
    "Over the past month we've seen gas prices reach a plateau and begin to drop," said Auto Club spokesperson Jeffrey Spring. "We expect to see an upward bump around Memorial Day, but through the summer the trend likely will be flat to downward."

Average prices as of 12:01 a.m., May 3:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.615      -1.0 cents    $2.036 (5/25/01)

San Diego                   $1.667      -0.4 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.680      -1.1 cents    $2.069 (5/16/01)

Las Vegas                   $1.495      -0.5 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.388      +1.5 cents    $1.720 (5/30/01)