LA Auto Club: Gas Prices Continue Falling

LOS ANGELES--Nov. 19, 2004--For the fourth consecutive week, gasoline prices in the Southland declined as crude oil futures continued pulling back from record highs set last month, according to the Automobile Club of Southern California's Weekend Gas Watch.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.326 a gallon, which is 4.6 cents lower than last week, nine cents lower than last month and 62 cents higher than last year. In San Diego, the price is $2.357, which is 3.7 cents lower than last week, eight cents below last month and 63 cents above last year. On the Central Coast, the average price is $2.452, which is down 4.8 cents from last week, seven cents lower than last month and 64 cents higher than last year. In the Inland Empire, the average price is $2.358, which is down 4.3 cents from last week, seven cents below last month and 67 cents above last year.

"The factor affecting gasoline prices most has been the high cost of crude oil. But since those prices have fallen over the past few weeks, gasoline has declined also," said Auto Club spokesperson Carol Thorp. "We expect the trend of lower prices at the gas pump to last for the remainder of 2004."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Nov. 19, 2004.

           Area             Regular   Change from      Record Price
                                       last week

Los Angeles-Long Beach        $2.326   -4.6 cents  $2.446 (10/21/2004)

Orange County                 $2.318   -4.8 cents  $2.441 (10/23/2004)

San Diego                     $2.357   -3.7 cents  $2.464 (10/21/2004)

Santa Barbara-Santa Maria-
 Lompoc                       $2.452   -4.8 cents  $2.570 (10/22/2004)

Riverside-San Bernardino      $2.358   -4.3 cents  $2.461 (10/21/2004)

Bakersfield                   $2.340   -4.1 cents  $2.437 (10/23/2004)

Las Vegas                     $2.187   -4.4 cents  $2.290 (10/20/2004)