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Gas Prices Shoot Upward in Two Weeks, Auto Club Survey Shows

1 March 2000

Gas Prices Shoot Upward in Two Weeks, Auto Club Survey Shows

    LOS ANGELES--Feb. 29, 2000--Fuel prices at Southern California gas stations surged by as much as 10 cents a gallon in the last two weeks, according to a special survey by the Automobile Club of Southern California.
    The Auto Club surveyed gas prices in 10 Southern California communities that are included in its usual monthly survey of 47 cities, and found that the price jump since its last regular survey on Feb. 15 ranged from 2.3 percent in San Luis Obispo to 7.7 percent in Van Nuys.
    Southern California prices for regular self-serve unleaded gasoline range from an average of $1.392 a gallon in La Habra to an average of $1.610 a gallon in Santa Barbara.
    Northern California prices surveyed this week are even higher: an average of $1.71 a gallon in San Francisco, $1.66 in San Jose, $1.58 in Sacramento, and $1.55 in Fresno.
    Oil industry analysts say the unusual price hikes stem from low inventories of crude oil created by the Organization of Petroleum Exporting Countries' continued cutback on oil production, which has forced oil prices up over $30 per barrel.
    "With gas prices hovering near $1.50 a gallon in many Southern California cities, motorists may want to devise ways to reduce their driving," said Steve Mazor, principal automotive engineer for the Auto Club. "Drivers can also cut their costs by more aggressively shopping around for the best gas prices."
    OPEC ministers are scheduled to debate whether to continue the cutback at their scheduled March 27 meeting, which industry analysts say could determine the direction of gas prices for this summer.
    The next regularly scheduled Auto Club gas price survey will be released on March 14.
    Following are average gas prices for some Southern California communities:

City                         Unleaded        Premium         Feb. 15
                                                            unleaded 
                                                              price

Anaheim                       1.458           1.615           1.378
Bakersfield                   1.567           1.770           1.478
La Habra                      1.392           1.602           1.308
Los Angeles                   1.455           1.624           1.373
Riverside                     1.482           1.641           1.404
San Bernardino                1.524           1.655           1.439
San Diego                     1.544           1.712           1.466
San Luis Obispo               1.569           1.739           1.533
Santa Barbara                 1.610           1.771           1.562
Van Nuys                      1.408           1.567           1.307

    The Auto Club's regular Fuel Gauge Report is based on data gathered from monitoring fuel transactions at 2,800 Southern California gas stations. Oil Price Information Service -- the nation's most comprehensive source of petroleum pricing information, provides the data.
    The Automobile Club of Southern California, the largest affiliate of AAA, has been serving members since 1900. Today, Auto Club members benefit by the organization's emergency road service, financial products, travel agency and trip planning services, highway and transportation safety programs, insurance products and services, automotive pricing, buying and financing programs and legislative advocacy. Information about these products and services is available on the Auto Club's Web site at www.aaa-calif.com.