LA Auto Club: Gasoline Prices Continue Downward Trend in Most Places

    LOS ANGELES--July 26, 2002--Gasoline prices continued their downward march throughout most of the southwest during the past week, the only exception being the central coast of California where prices registered a slight up-tick, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    This is the fourth consecutive week that the Los Angeles-Long Beach area has seen a decline in average prices. 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 $1.605 per gallon, which is 1.1 cents lower than last week's price, 3 cents lower than last month and 17 cents lower than prices at this time last year.
    In San Diego the price is $1.624, which is four-tenths of a cent lower than last week's level, 2 cents lower than last month and 22 cents lower than last year. Motorists in the central coast have an average price of $1.694, which is three-tenths of a cent above last week's price, 1 cent below last month and 16 cents under the price last year.
    "Whether gas prices will go up, down or stay stable remains uncertain for the rest of the summer," said Auto Club spokesperson Carol Thorp. "Refiners have been reducing supplies, which tends to drive prices up, but stock market woes are weighing down the price of oil. The result has been minimal price shifts, a trend that may continue."

Average prices as of 12:01 a.m., July 26:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.605      -1.1 cents    $2.036 (5/25/01)

San Diego                   $1.624      -0.4 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.694      +0.3 cents    $2.069 (5/16/01)

Las Vegas                   $1.519      -0.8 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.452      -1.0 cents    $1.720 (5/30/01)