LA Auto Club: Pump Prices Fall as Motorists Cut Back

LOS ANGELES--Oct. 14, 2005--The state's retail gasoline market continues to demonstrate see-saw volatility in the aftermath of Hurricanes Katrina and Rita, with prices declining through the region this week after rising the prior week. The current price drop is attributed to a decline in demand caused by high prices since the hurricanes, 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 $2.957, which is 2 cents lower than last week, 3 cents lower than last month and 63 cents higher than last year. In San Diego, the price is $2.993 -- 2 cents below last week's price, 4 cents below last month and 62 cents above last year. On the Central Coast, the average price is $3.025, down 1.7 cents from last week, 7 cents lower than last month and 54 cents higher than last year. In the Inland Empire, the average price is $2.979, down 1.8 cents from last week, 2 cents below last month and 62 cents higher than last year.

"Twice this year, the average price of gasoline rose to near $3 per gallon and each time demand fell off," Auto Club spokeswoman Carol Thorp said. "It appears, for the time being, that $3 per gallon is the threshold at which Californians will change their behavior and cut back driving."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Oct. 14, 2005:

Area                        Regular   Change from      Record Price
                                       last week
Los Angeles-Long Beach       $2.957    -2.0 cents    $2.999 (9/6/2005)

Orange County                $2.898    -3.7 cents    $2.970 (9/6/2005)

San Diego                    $2.993    -2.0 cents    $3.060 (9/5/2005)

Santa Barbara-Santa
 Maria-Lompoc                $3.025    -1.7 cents    $3.111 (9/7/2005)

Riverside-San Bernardino     $2.979    -1.8 cents    $3.030 (9/9/2005)

Bakersfield                  $3.011    -4.2 cents    $3.167 (9/9/2005)

Las Vegas                    $2.838    -3.4 cents    $2.968 (9/8/2005)