LA Auto Club: Gas Prices Continue Downward Trend

    LOS ANGELES--Oct. 4, 2002--For the fourth consecutive week, gasoline prices in Southern California declined last week, according to the Weekend Gas Watch compiled by the Automobile Club of Southern California.
    Ample supply of refined product coupled with customarily low post summer demand pushed prices lower. 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 $1.582 per gallon, which is 1.4 cents lower than last week's price, five cents lower than last month and two cents higher than last year. In San Diego the price is $1.641 which is one cent lower than last week's level, three cents below last month and six cents lower than last year.
    Motorists in the central coast have an average price of $1.658, which is 3.5 cents below last week's price, six cents lower than last month and three cents lower than last year.
    "The possibility of hostilities in the Middle East still hangs over the gasoline market, but the factors of abundant supplies and lower demand appear to be stronger at this point," said Carol Thorp, Auto Club spokesperson. "Without threat of a significant interruption in crude oil, pump prices could continue their downward trend for at least the next week."
    Average prices as of 12:01 a.m., Oct. 4:

Area                   Regular   Change from last week  Record Price

Los Angeles-Long Beach  $1.582        -1.4 cents      $2.036 (5/25/01)

San Diego               $1.641        -1.0 cents      $2.025 (5/29/01)

Santa Barbara-Santa 
Maria-Lompoc            $1.658        -3.5 cents      $2.069 (5/16/01)

Las Vegas               $1.473        -0.3 cents      $1.885 (3/27/00)

Phoenix-Mesa, Ariz.     $1.395        -1.5 cents      $1.720 (5/30/01)