Auto Club: Pump Prices Continue Downward; Motorists Enjoy Falling Prices With Further Reductions Likely

    LOS ANGELES--Oct. 5, 2001--For the third consecutive week, prices at the pump declined throughout Southern California, according to the Automobile Club of Southern California's Weekend Gas Watch.
    Further price declines are expected in the coming weeks as the soft economy reduces demand for gasoline in the face of ample supplies throughout the region.
    The current price of regular unleaded self-serve in the Los Angeles/Long Beach reporting area is $1.555 per gallon, 3.6 cents lower than the price at this time last week. The price in San Diego is 3.4 cents lower than last week's average. The price for Central Coast motorists is 2.5 cents lower than last week. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    "Traditionally, this is the softest time of the year in terms of motor vehicle travel and under normal circumstances we would expect to see low demand for gasoline," said Jeffrey Spring, Auto Club spokesman. "When you consider the impact to the economy of the events of September 11th, we expect to see even lower demand for gas for the next couple of weeks."

Average prices as of 11 a.m. Oct. 5.

Area                   Regular   Change from         Record Price 
                                 last week                 
Los Angeles-
Long Beach              $1.555    -3.6 cents     $2.036 (set 5/25)

San Diego               $1.690    -3.4 cents         $2.025 (5/29)

Santa Barbara-
Santa Maria-Lompoc      $1.689    -2.5 cents         $2.069 (5/16)

Las Vegas               $1.486    -2.9 cents     $1.885  (3/27/00)

Phoenix-Mesa, Ariz.     $1.389    -1.9 cents         $1.720 (5/30)