LA Auto Club: Steady Declines in Gas Prices for Sixth Straight Week

    LOS ANGELES--May 2, 2003--Gasoline prices continued falling throughout the Southwest, marking the sixth consecutive week of price declines, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.977 per gallon, which is 3.7 cents lower than last week's price, 18 cents lower than last month and 36 cents higher than last year.
    In San Diego the price is $1.987, which is 4.5 cents below last week's level, 21 cents below last month and 32 cents above last year. Motorists in the central coast have an average price of $2.046, which is 3.6 cents lower than last week's price, 14 cents lower than last month and 37 cents higher than last year.
    "Retail profits remain quite strong at this time, so it's likely we'll see stations competing for customers and that should push prices even lower," said Carol Thorp, spokesperson for the Automobile Club of Southern California.
    "If the current conditions continue, prices could continue falling even into the Memorial Day weekend, which traditionally is a high demand time and considered the start of the summer driving season."
    The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips. Average prices as of 12:01 a.m., May 2:

Area                        Regular   Change from    Record Price
                                       last week

Los Angeles-Long Beach      $1.977     -3.7 cents   $2.167 (3/22/03)

San Diego                   $1.987     -4.5 cents   $2.211 (3/20/03)

Santa Barbara-Santa Maria-
Lompoc                      $2.046     -3.6 cents   $2.207 (3/22/03)

Las Vegas                   $1.897     -4.9 cents   $2.063 (3/25/03)

Phoenix-Mesa, Ariz.         $1.868     -3.9 cents   $2.003 (3/22/03)