LA Auto Club: Gas Prices Surge Higher
LOS ANGELES--April 28, 2006--Southern California motorists endured double-digit increases at the gas pump for the second week in a row as prices reached new record highs every day this week, 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 $3.197, which is 16.8 cents higher than last week, 46 cents higher than last month and 59 cents higher than last year. In San Diego, the price is $3.213 -- 9.7 cents above last week's price, 49 cents above last month and 62 cents above last year. On the Central Coast, the average price is $3.272, up 15.6 cents from last week, 44 cents above last month and 54 cents higher than last year. In the Inland Empire, the average price is $3.225, up 17.2 cents from last week, 48 cents above last month and 60 cents higher than last year.
"Prices remain on the rise but there is hope that we may be nearing a peak," said Auto Club spokesperson Carol Thorp. "Wholesale gas prices have averaged about $2.60 per gallon for the past week. Taxes add about 60 cents to that, transportation and dealer profit is another 5-10 cents. Prices in the L.A./Long Beach area could peak at $3.25-$3.30 by mid-May then they could decline after Memorial Day."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., April 28:
Area Regular Change from Record Price
last week
Los Angeles-Long Beach $3.197 +16.8 cents $3.197 (4/27/2006)
Orange County $3.177 +17.8 cents $3.177 (4/27/2006)
San Diego $3.213 +9.7 cents $3.213 (4/27/2006)
Santa Barbara-Santa Maria-
Lompoc $3.272 +15.6 cents $3.272 (4/27/2006)
Riverside-San Bernardino $3.225 +17.2 cents $3.225 (4/27/2006)
Bakersfield $3.210 +12.3 cents $3.210 (4/27/2006)
Las Vegas $2.942 +14.0 cents $2.968 (9/8/2005)
