LA Auto Club: As the Holidays Approach the Weather is Hot, But Gas Prices are Cooling Off

    LOS ANGELES--Nov. 22, 2002--A week short of the Thanksgiving holiday period, gasoline prices appear to have crested and are beginning to turn lower, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    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 $1.590 per gallon, which is 1 cent lower than last week's price, 5 cents higher than last month and 36 cents higher than last year.
    In San Diego the price is $1.664 which is eight-tenths of a cent lower than last week's level, 6 cents above last month and 26 cents more than last year. Motorists in the central coast have an average price of $1.646, which is three-tenths of a cent below last week's price, 2 cents above last month and 31 cents higher than last year.
    "We've been waiting for a couple of weeks for retail prices to level off in order to correspond with the drop in wholesale prices and that has happened," Auto Club spokesperson Carol Thorp said. "It looks like prices will stay close to where they are through next Thursday, so the cost of gasoline probably won't take a bite out of anyone's Thanksgiving feast."

Average prices as of 12:01 a.m., Nov. 22:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.590      -1.0 cents    $2.036 (5/25/01)

San Diego                   $1.664      -0.8 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.646      -0.3 cents    $2.069 (5/16/01)

Las Vegas                   $1.451      +0.2 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.376      +0.2 cents    $1.720 (5/30/01)