LA Auto Club: Gas Prices Make U-Turn and Spike After Two Months of Declines

    LOS ANGELES--Nov. 8, 2002--After eight weeks of declines, gasoline prices reversed course last week and rose dramatically in Southern California, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    For several weeks, retail prices held steady while wholesale prices rose. But last week pump prices increased, mirroring wholesale levels. 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 $1.591 per gallon, which is 6.7 cents higher than last week's price, 2 cents higher than last month and 26 cents higher than last year.
    In San Diego the price is $1.655 which is 5 cents higher than last week's level, 2 cents above last month and 16 cents above last year. Motorists in the central coast have an average price of $1.650, which is 4.3 cents above last week's price, 1 cent lower than last month and 18 cents higher than last year.
    "For the past month, retail prices inched lower as wholesale gasoline prices moved steadily higher. Something had to give and pump prices jumped up," Auto Club spokesperson Carol Thorp said. "Currently, California has the highest gas prices in the continental U.S. and in the immediate future, those prices could rise even higher."

Average prices as of 12:01 a.m., Nov. 8:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.591      +6.7 cents    $2.036 (5/25/01)

San Diego                   $1.655      +5.0 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.650      +4.3 cents    $2.069 (5/16/01)

Las Vegas                   $1.431      +0.8 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.374      +0.4 cents    $1.720 (5/30/01)