Auto Club: Gas Prices Up 60 Percent in 2002

    LOS ANGELES--March 29, 2002--Gasoline prices in Southern California have recorded their 12th consecutive week of increases with current levels about 60 percent above where they were on Jan. 1, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    At the beginning of 2002, gasoline prices in Southern California hovered just below $1 per gallon. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.578 per gallon, which is 5.3 cents above last week's price. In San Diego the price is $1.630, which is five cents higher than last week's level. Motorists in the central coast have an average price of $1.630, which is 5.4 cents above last week's price.
    The price for L.A-Long Beach is 25 cents higher than prices a month ago; however, it is four cents below the price at this time last year. The price for San Diego is 23 cents higher than last month and 16 cents lower than last year. In the Santa Barbara-Santa Maria-Lompoc area, today's price is 22 cents higher than last month's price and 16 cents lower than the price last year.
    "In the first three months of 2002, pump prices have risen nearly 60 percent and there don't appear to be any factors that can stem increases in the near term," said Auto Club spokesperson Jeffrey Spring. "There is some expectation that with a strengthening economy there may be more demand for gasoline this spring, which could put upward pressure on prices. We'll be watching closely the rate of production by refineries to see if they'll keep up with demand, or produce at lower levels in order to keep prices higher."

Average prices as of 12:01 a.m., March 29:

Area                Regular Change   from last week      Record Price

Los Angeles-Long Beach      $1.578       +5.3 cents      $2.036 (5/25)

San Diego                   $1.630       +5.0 cents      $2.025 (5/29)

Santa Barbara-Santa Maria-
Lompoc                      $1.630       +5.4 cents      $2.069 (5/16)

Las Vegas                   $1.382       +4.7 cents   $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.284       +4.9 cents      $1.720 (5/30)