LA Auto Club: Pump Prices Experience Slight Ups and Downs; Small Changes Indicate Price Stability

    LOS ANGELES--July 12, 2002--Motorists in Southern California experienced small changes up and down in the average price of regular unleaded self-serve gasoline during the past week, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    For three consecutive weeks prices have remained relatively stable, with average changes being less than 1 cent in either direction. 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 $1.624 per gallon, which is four-tenths of a cent lower than last week's price, 5 cents higher than last month's price and 25 cents lower than the price at this time last year.
    In San Diego the price is $1.643, which is seven-tenths of a cent lower than last week's level, 6 cents higher than last month and 29 cents lower than last year. Motorists in the central coast have an average price of $1.705, which is six-tenths of a cent above last week's price, 6 cents higher than last month's price and 23 cents lower than the price last year.
    "We're just about at the mid-way point in the summer driving season and we've seen prices remain on a level-to-slight downward curve," said Auto Club spokesperson Carol Thorp. "There don't appear to be any supply or demand factors that would change prices dramatically from their current levels."

Average prices as of 12:01 a.m., July 12:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.624      -0.4 cents    $2.036 (5/25/01)

San Diego                   $1.643      -0.7 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.705      +0.6 cents    $2.069 (5/16/01)

Las Vegas                   $1.545      +0.1 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.474      -0.3 cents    $1.720 (5/30/01)