LA Auto Club: October Won't Be a Treat for Gas Prices

LOS ANGELES--Oct. 1, 2004--October culminates with Halloween, but the beginning of the month will feature no treats at the gas pumps, according to the Automobile Club of Southern California's Weekend Gas Watch. The aftermath of four Florida hurricanes pushed wholesale gasoline and crude oil futures prices to near record heights and that could send retail prices soaring over the next couple of weeks.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.113 a gallon, which is 3.2 cents higher than last week, 3 cents higher than last month and 15 cents above last year. In San Diego, the price is $2.149, which is 3.2 cents higher than last week, 4 cents above last month and 19 cents higher than last year. On the Central Coast, the average price is $2.264, which is up 1.9 cents from last week, the same as last month and 22 cents higher than last year. In the Inland Empire, the average price is $2.139, which is up 2.5 cents from last week, 4 cents above last month and 20 cents above last year.

"Wholesale gasoline and crude oil prices spiked as four hurricanes roared through Florida and the Gulf Coast. During that time, our gas prices continued lower," said Auto Club spokesperson Carol Thorp. "Now the pendulum swing of high prices has hit California and there could be a couple of weeks of sharp increases before the pendulum swings back in the other direction."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Oct. 1, 2004.

Area                         Regular   Change from    Record Price
                                        last week

Los Angeles-Long Beach        $2.113   +3.2 cents   $2.368 (5/28/2004)

Orange County                 $2.110   +2.9 cents   $2.353 (6/01/2004)

San Diego                     $2.149   +3.2 cents   $2.373 (5/26/2004)

Santa Barbara-Santa Maria-
 Lompoc                       $2.264   +1.9 cents   $2.489 (5/29/2004)

Riverside-San  Bernardino     $2.139   +2.5 cents   $2.399 (6/01/2004)

Bakersfield                   $2.160   +5.6 cents   $2.383 (6/01/2004)

Las Vegas                     $2.084   +4.2 cents   $2.279 (5/26/2004)